City of Toronto project to create hundreds of new "affordable" rental homes in Queen East
The City of Toronto has agreed to a major revitalization of the Toronto Community Housing Corporation’s (TCHC) Don Summerville Apartments in the east end.
According to the city and TCHC, the revitalization at 1555 and 1575 Queen Street East in the Queen and Coxwell area will result in the creation of “quality, affordable, rental and market housing.”
“As mayor, creating new, quality, affordable housing is a top priority for me. This new partnership with Context Development represents a significant investment in new affordable housing that will transform the Queen East neighbourhood,” said Mayor John Tory.
“Through this venture, we are creating hundreds of new homes for people to enjoy in a growing and vibrant neighbourhood.”
City councillor Paula Fletcher worked with Context Development and TCHC over the past year on a plan that would increase the amount of affordable housing and market-rate apartments on the site, states a release from the TCHC.
The plan has since been approved by the TCHC Board and city council.
The TCHC said this new project will replace the 120 units currently on the site, and add 100 affordable rental apartments, 180 market rent apartments, and 350 additional condo units.
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“Building good quality affordable and market rental housing is a top priority for the city,” said Councillor Fletcher, who also sits on the TCHC Board. “This site is transit-friendly with good access to services and greenspace. In the coming weeks, we will hold open houses to hear from the local community and we are working closely with tenants to ensure their needs are met through the construction phase.”
“This will truly be a mixed-income neighbourhood — with a mix of tenure types,” said Howard Cohen, president of Context Development. “We have come together to place a greater emphasis on rental housing with a significant component at below-market rents.”
The TCHC said that tenants living in the two existing TCHC buildings will be relocated to suitable accommodation at other properties. All eligible tenants will have the right to return to the community once the revitalization is completed.
It is anticipated the new community will be ready for occupancy by late 2023.