The government of Ontario is investing more than $600 million dollars over the next three years in affordable and sustainable housing in Toronto, including millions more for repairs and retrofits to social housing buildings.
In 2016-17, Ontario is contributing $42.9 million to the City of Toronto for repairs and retrofits to 26 social housing buildings, with all funds committed by March 31, 2017 and repairs to be completed by March 31, 2018. This investment will allow for the installation of energy-efficient boilers, windows, and lighting as well as the insulation of outer walls and mechanical systems.
These investments are part of Ontario's Social Housing Apartment Retrofit Program (SHARP). The program is part of Ontario's plan to fight climate change by investing proceeds from its carbon market into actions that help households and businesses reduce greenhouse gas emissions and save money on energy costs.
Over the next three years, the city will receive more than $130 million in additional funding for social housing repairs through the program.
The province is also:
- Investing $340 million over the next three years for homelessness prevention to help Toronto's most vulnerable residents.
- Investing $130 million over the next three years to build and expand affordable housing options for people in Toronto.
- As part of Ontario's Fair Housing Plan, unlocking provincial land worth up to $100 million to build new affordable rental units in the city, with pilots at 27 Grosvenor Street and 26 Grenville Street in Toronto.