TORONTO – City staffers are reviewing a plan for dozens of units in a new waterfront condominium development to be used for affordable housing.
The city wants to build 71 affordable housing units in the brand new Bayside development planned at the edge of Lake Ontario next to Sherbourne Common.
Affordable housing committee chair Ana Bailao says this is a first for the city.
“The innovation here is that we’re getting these affordable units right in the first phase of the project and in exactly the same building where the condominiums are going to be,” she told 680News.
She says this is part of the city’s requirement that 20 per cent of waterfront developers’ units be affordable.
“We want to build healthy communities and healthy communities have a mixture of uses and a mixture of people living in it.”
Rent will range from $800 for a one-bedroom unit to $1,100 for a three-bedroom unit and will be no different from the market-price condos.
Mayor Rob Ford is not necessarily against the plan, but questions the location.
“The location to me is ridiculous. You don’t use prime property for affordable housing,” he said.
The units will be purchased with $15-million provided through the federal-provincial Affordable Housing Program.
A non-profit or co-operative company will operate the units.
The plan still needs approval from the mayor’s executive committee and city council.