In Toronto, affordable housing remains a vital component of urban development, addressing the growing demand for equitable living solutions in one of Canada’s most dynamic cities. Despite ongoing efforts, the city continues to encounter significant challenges. As of 2024, approximately 40% of renter households in Toronto spend over 30% of their income on housing, exceeding the widely accepted affordability threshold. Furthermore, the city's affordable housing waitlist has surpassed 81,000 households, underscoring the urgent need for innovative strategies and effective solutions to bridge the gap.

 

To address these challenges, the City of Toronto has been implementing the HousingTO 2020-2030 Action Plan, aiming to deliver 65,000 new rent-controlled homes, including 41,000 affordable rental units. As of 2024, over 23,000 new rent-controlled, affordable rental, and supportive homes have been approved towards this target. 

 

Despite ongoing efforts, meeting the HousingTO targets necessitates substantial new investments from both federal and provincial governments. The city estimates that it will need approximately $7.6 to $8.1 billion in funding and $6.4 to $7 billion in low-cost financing from the federal government, as well as $9.1 to $9.6 billion in funding and an additional $6.4 to $7 billion in financing from the provincial government over the next six years.

 

Join us at the 3rd Annual Affordable Housing hosted by Trueventus to gain exclusive insights into groundbreaking case studies and projects from renowned industry leaders. Look forward to the opportunity to connect with peers across the housing sector and explore actionable strategies to transform Toronto’s affordable housing ecosyste\\m as well as engaging conversation driving the future of affordable housing in Canada’s largest city.