In 2019, Toronto unveiled an ambitious affordable housing program called Housing Now that envisioned building thousands of affordable rental apartments units in the city.
The city agency tasked with developing the affordable rental portfolio, CreateTO—which has been mired in delays for nearly three years—recently issued a report identifying 11 projects it says will be the first phase of 21 multifamily developments the agency says it has in its pipeline.
CreateTO said it expects to break ground by Q2 2023 on three projects which will encompass 3,024 units, 1,510 of which to be offered at rates below the city's average market rents, according to a report in the Toronto Star. The projects were originally scheduled to be built in 2020.
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