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New City corporation to build thousands of affordable “shared equity” housing units as well as zoning changes, process simplifications, direct incentives to allow more housing opportunities in neighbourhoods and along 1,200 kilometres of major streets, mayoral candidate says
Toronto – Mitzie Hunter, mayoral candidate, is issuing a plan to build thousands of affordable homes for people to buy, as well as sparking a home building boom along our major streets and speeding up the steps needed to approve new home construction.
“We are in a housing crisis and that’s why we need to unlock public lands to build more affordable housing that people can actually afford to buy. And we need to make it easier, faster and less expensive to build and afford medium-density housing across the City,” says Hunter.
“We need to do things differently. We need to Fix the Six. And that means creating the types of housing opportunities that regular people can afford to both own and rent. A home should be a place of safety, security, promise and possibility. As your Mayor I will work everyday so our younger generations can afford to own homes in the neighbourhoods they grew up in.”
Hunter has a five-point plan to deliver more affordable housing and increase the supply of homes available to both rent and own:
- Unlock public lands to build more new affordable housing than any other candidate including the only plan to build affordable Shared Equity homes that regular people can afford to buy;
- Create real incentives to give meaning to an end to the multiplex ban so more affordable housing can be created in low-rise multiplexes of up to four units in every part of the City;
- Permit rental apartments of up to eight storeys on major streets and near campuses;
- Speed up building approvals and construction; and
- Protect renters and save current affordable housing.
The centrepieces of Hunters plan are a new Toronto Affordable Housing Corporation (TAHC) and real actions and incentives to make home building faster and less expensive.
Over its first six years, the new TAHC will:
- Build 108 new developmentson City owned land. These developments will be between 10 and 20 storeys and be suitable for small and medium sized lots in every part of the city. Other candidates’ proposals rely on massive buildings of 40 storeys or more.
- Deliver nearly 22,700 unitsproviding housing for approximately 53,650 people with 16,556 of these units to be purpose-built rental units.
- Ensure that, unlike every other candidate’s proposal, the majority of these – 68 per cent -- will be affordable units with rents at or below the Average Market Rent (AMR) reported by the CMHC.
- Hunter’s TAHC buildings will also be the most family-friendly of any candidate’s proposal. More than 55 per cent of all units are two and three bedrooms. Other proposals have no more than 40 per cent.
- Hunter’s TAHC buildings will be communities with on-site retail stores, space for community services like libraries and childcare and parks and green space.
- Hunter’s plan is the only plan that offers hope to people looking to find homes they can actually afford to purchase and own.
- Hunter’s plan will see the TAHC build 22,692 units in Phase One. Of these, 6,136 are “shared equity” purchase units, or 27 per cent of the total units built.
- Hunter’s shared equity approach to home ownership will join other innovators like Options for Homes, Trillium Housing and the BlackNorth Initiative (BNI) which has an innovative Homeownership Bridge Program.
- TAHC shared equity units will be sold for 50 per cent of their market values. The TAHC will retain ownership of the remaining 50 per cent.
- This means a 750-square-foot, two-bedroom home for a family can be purchased for $450,000. With a five-per-cent downpayment, a family can save $22,500 and be able to buy a home.
- At current mortgage rates and including building fees, a home can be a reality for just $2,865 a month, which is less than $200 more than average market rent for a two bedroom.
- This means a 550-square-foot, one-bedroom home for a couple can be purchased for $350,000. With a five-per-cent downpayment, a young couple can buy a home for $17,500 down.
- At current mortgage rates and including building fees a home can be a reality for less than $2,600 a month, which is less than $200 more than average market rent for a one bedroom.
- A studio unit will cost $275,000 and be within reach of a recent college graduate or an apprentice in the trades for $13,750 down.
- To make these homes more affordable, the TAHC will top up the First Time Home Buyer Municipal Land Transfer Tax rebate to bring the total up to a maximum of $5,225.
Mitzie Hunter will also be laser-focused on making it easier and less expensive to build new housing:
- City Council has voted to legalize four-plexes and Hunter has a plan to make them financially more viable with forgivable low interest loans of up to $100,000 for the cost of renovations or additions to create multiplexes.
- Annual payments will be forgivable every year that the unit is rented at below average market rent (AMR).
- To further support this type of change and encourage multi-generational housing opportunities, the Municipal Land Transfer Tax will be fully waived when new multiplex units are separated and ownership transferred to a family member.
- To reduce the costs of permit approval and design, the City will develop standardized designs for laneway and garden suites of various sizes which will also expedite approvals.
- New apartment buildings of up to eight storeys will be permitted along the more than 1,200 kilometres of Toronto roads that are deemed to be “major streets.” To create new affordable home ownership opportunities, this will be extended to allow for condominium ownership of such buildings where shared-equity units form at least half of the building units.
- To create new affordable home ownership opportunities, this will be extended to allow for condominium ownershipof such buildings where shared-equity units form at least half of the building units.
Hunter’s plan will also:
- Hire 15 more city planners and expedite development application reviews to get new housing approved more quickly.
- Speed up approvals by reviewing the City’s design guidelines and heritage designations that are too often used to slow or thwart new development.
In developing her plan, Hunter drew on her experience as CAO of Toronto Community Housing prior to being MPP for Scarborough-Guildwood and a senior cabinet minister.
The other leading candidates who have released housing plans all continue the failed status quo approach. Their buildings are all too big for most neighbourhoods. The majority of units they create are market rentals or unaffordable condos. The majority of units are one bedroom and not fit for families and none offers anything to people looking to buy an affordable home.
In contrast, Hunter’s plan builds more affordable housing units for renters and buyers alike and more than any other plan in family-friendly buildings that can fit into every part of the city.
Hunter’s housing plan is the most detailed, practical and comprehensive plan issued by any mayoral candidate as well as being fully-costed and part of her budget plan to be issued before voting begins in June.
“We can do this, we must do it, and if we are to have a city that works for everyone, everywhere, we must grow the supply of affordable housing for both renters and buyers. Let's grab control of the levers as a city and get it done. My plan does this.”
-30-
Contact:
Charmain Emerson
charmain@culturedcommunications.ca
Remarks by Mitzie Hunter announcing her Affordable Ownership plan, May 12, 2023:
- During this campaign I have steadily unrolled policy planks that form my campaign platform.
- Mental health and addiction.
- Homelessness and housing stability.
- Youth mental wellness and homelessness.
- TTC safety so people can feel safe and be safe.
- Getting Toronto moving again by reversing TTC service cuts, rolling back fare increases, and free fares for seniors and Wheel Trans users.
- Laying out my TTC construction priorities including the Waterfront LRT, North York Scarborough subway, Eglinton East LRT extension. A transitional dedicated busway in Scarborough until the subway extension is built.
- Ontario Place… and my four tests for redevelopment which the current private spa proposal does not pass.
- The Ontario Science Centre and opposing the Provincial plan to demolish it.
- I am committed to issuing a full costing in a budget before voting starts in June.
- I am putting forward my plan in a steady, deliberate and principled way so that when people vote for me they know exactly what they are getting if they elect me as their mayor.
- On Monday… I presented my centrepiece policy which is affordable housing.
- It is a five-point plan for more affordable housing, more quickly.
- My detailed and practical five-point plan will:
o Unlock public lands for more new affordable housing
o End the multiplex ban in order to create affordable housing
o Add rental apartments on major streets and near campuses
o Speed up building approvals and construction
o Protect renters and save current affordable housing.
- On Tuesday… I announced details of one of the main elements of my plan which is creating a Toronto Affordable Housing Corporation.
- On Thursday… I announced details of my Tenant Protection Plan, which creates… a new Tenant Advocate… as well as expands and improves the Eviction Prevention in the Community (EPIC) Program… and fully-funds a robust Multi-Unit Residential Acquisition program to preserve existing affordable housing.
- Today… I am announcing details of my plan to build thousands of affordable homes… for people to buy.
- The centrepieces of my plan is a new Toronto Affordable Housing Corporation (TAHC) and real actions and incentives to make affordable home building faster and less expensive.
- Over its first six years, the new TAHC will:
- Build 108 new developmentson City owned land. These developments will be between 10 and 20 storeys and be suitable for small and medium sized lots in every part of the city. Other candidates’ proposals rely on massive buildings of 40 storeys or more.
- Deliver nearly 22,700 unitsproviding housing for approximately 53,650 people with 16,556 of these units to be purpose-built rental units.
- Ensure that, unlike every other candidate’s proposal, the majority of these – 68 per cent -- will be affordable units with rents at or below the Average Market Rent (AMR) reported by the CMHC.
- These TAHC buildings will also be the most family-friendlyof any candidate’s proposal. More than 55 per cent of all units are two and three bedrooms. Other proposals have no more than 40 per cent.
- My TAHC plan will build communities with on-site retail stores, space for community services like libraries and childcare and parks and green space.
- My plan is the only one that offers hope to people looking to find homes they can actually afford to purchase and own.
- Under my plan, the TAHC builds nearly 22,700 units in Phase One. Of these, more than 6,100 are “shared equity”purchase units, or nearly 30 per cent of the total units built.
- My shared equity approach to home ownership will join other innovators like Options for Homes, Trillium Housing and the BlackNorth Initiative (BNI) which has an innovative Homeownership Bridge Program.
- My TAHC shared equity units will be sold for 50 per cent of their market values.
- This means a 750-square-foot, two-bedroom home for a family can be purchased for $450,000. With a five-per-cent downpayment, a family can save $22,500 and be able to buy a home.
- At current mortgage rates and including building fees, a home can be a reality for just $2,865 a month, which is less than $200 more than average market rent for a two bedroom.
- This means a 550-square-foot, one-bedroom home for a couple can be purchased for $350,000. With a five-per-cent downpayment, a young couple can buy a home for $17,500 down.
- At current mortgage rates and including building fees a home can be a reality for less than $2,600 a month, which is less than $200 more than average market rent for a one bedroom.
- A studio unit will cost $275,000 and be within reach of a recent college graduate orapprentice in the trades for $13,750 down.
- To make these homes more affordable, the TAHC will top up the First Time Home Buyer Municipal Land Transfer Tax rebate to bring the total up to a maximum of $5,225.
- As mayor, I will be laser-focused on making it easier and less expensive to build new housing.
- Legalizing four-plexes will be made financially more viable with forgivable low interest loans of up to $100,000 for the cost of renovations or additions to create multiplexes.
- Annual payments will be forgivable every year that the unit is rented at below average market rent (AMR), as determined by the City.
- To further support this type of change and encourage multi-generational housing opportunities, the Municipal Land Transfer Tax will be fully waived when new multiplex units are separated and ownership transferred to a family member.
- To reduce the costs of permit approval and design, the City will develop standardized designs for laneway and garden suites of various sizes which will also expedite approvals.
- New apartment buildings of up to eight storeys will be permitted along the more than 1,200 kilometres of Toronto roads that are deemed to be “major streets.”
- To create new affordable home ownership opportunities, this will be extended to allow for condominium ownership of such buildings where shared-equity units form at least half of the building units.
- Hire 15 more city planners and expedite development application reviews to get new housing approved more quickly.
- Speed up approvals by reviewing the City’s design guidelines and heritage designations that are too often used to slow or thwart new development.
- The other leading candidates who have released housing plans all continue the failed status quo approach.
- Their buildings are all too big for most neighbourhoods. The majority of units they create are market rentals or unaffordable condos. The majority of units are one bedroom and not fit for families and none offers anything to people looking to buy an affordable home.
- In contrast, my plan builds more affordable housing units for renters and buyers alike and more than any other plan in family-friendly buildings that can fit into every part of the city.
- My plan is the most detailed, practical and comprehensive plan issued by any mayoral candidate as well as being fully-costed and part of my budget plan to be issued before voting begins in June,
- We can do this, we must do it, and if we are to have a city that works for everyone, everywhere, we must grow the supply of affordable housing for both renters and buyers.
- Let's grab control of the levers as a city and get it done.
- My plan represents a complete change in how to get it done so we, the people of Toronto, can control the delivery of affordable homes for real results.
- We have to do things differently, same old same old isn't working everyone knows that. Let's choose to do better.
- You can find all the details on the Toronto Affordable Housing Corporation, how it works and how it will deliver for people, in the 23-page background document I issued on Monday.
- My plan is the most detailed, practical, and comprehensive plan issued by any mayoral candidate.
- My plan draws on my experience as CAO of Toronto Community Housing prior to being MPP for Scarborough-Guildwood and a senior cabinet minister.
- Detailed, practical, comprehensive. My plan gets the job done.
- We can do this, and we must do it, and if we are to have a city that works for everyone, everywhere, we must grow the supply of affordable housing for renters and owners alike, and not just hope creating the conditions for that is enough.
- The verdict is in - it hasn't worked. And everybody knows it. So let's grab control of the levers as a city and get it done.
- The City has to be the quarterback when it comes to affordable housing. We can’t leave it to the developers.
- The City has to lead when it comes to affordable housing. We can’t leave it to the developers.
- The City has to be the designer, the project champion and ultimately the building owner, to deliver more, new affordable housing, more quickly, for the people who need it most.
- Toronto is at a turning point, we can’t let it become a breaking point… I want to turn Toronto around for the better.
- But that won’t happened with the same faces from the same places, unsuccessfully doing the same things they have always done, with a complete lack of results for the people of this city.
- That isn't good enough and must change. Otherwise, the city will keep going backwards.
- But we can choose instead to get going right way to actually build affordable housing.
- Everybody knows it's a priority for our city. It is my priority too.
- The Toronto we want is where young people who grow up here can afford to live here.
- Where we can all get to where we need to go – safely.
- Where we all get the services we need – no matter who we are or where we live.
- With fixed housing, fixed transit, fixed services.
- This campaign is about Toronto. It’s about time. Time for change. Time for action.
- Join me… because it’s time to Fix the Six together.
- It’s time we bring more people on the outside to the insideof City Hall. That’s who I am and what I’ve done.
- In Scarborough… In business... At Toronto housing... And as cabinet minister in really tough portfolios.
- Fresh eyes. New solutions.
- Same faces from the same place will not fix the mess we are in.
- Let’s choose to do better.
- That’s why I am running for mayor.
- I’m running for mayor, because I want to lead Toronto’s revival as a city that works for everyone, everywhere.
End