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Canada Supports Rapid Housing Projects in Toronto

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TORONTO, April 15, 2021 /CNW/ - Every Canadian deserves a safe and affordable place to call home. The COVID-19 crisis has made it clear that affordable housing is key to Canada s recovery as regions across the country, including those in Toronto, are dealing with the devastating impacts of rising levels of homelessness and housing need.
Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), and John Tory, Mayor of Toronto, announced details of an approximately $143 million investment through the Major Cities Stream of the Rapid Housing Initiative (RHI) for the immediate purchase and renovation of approximately 334 units of affordable housing in Toronto. ....

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Toronto council passes vacant home tax

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Owners of empty homes in Toronto will soon have to pay to keep their properties vacant.
City council has given their nod to a vacant home tax, requiring owners of empty homes and condos to pay a levy most likely 1% of the property’s value starting in 2022.
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“We just can’t afford a city to have thousands and thousand of units sitting vacant, we can’t afford that given that we’re short of housing,” Mayor John Tory told council. ....

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