TL;DR by CuriousCats.ai
- Carney's government would not be supporting the proposed expansion of Toronto's Billy Bishop Airport, fueling tensions with Ford.
- Federal Transportation Minister Steven MacKinnon said the federal government will not pursue plans that infringe on treasured public spaces.
- Ford's government chastised the federal government for giving into a 'fringe group' of Toronto residents.
- Toronto Star reported Ford and Carney struck an informal deal on supporting each other's infrastructure projects.
- Province began project.
- The federal government is pledging $2.7 billion over three years to build more than 18 housing projects across Toronto.
- The plan includes 5,600 rental homes, including 1,800 deeply affordable units.
- 4,500 new homes will be under construction by year's end.
- Projects will take place in neighbourhoods hardest hit by rising rent and evictions, including a 16-story complex in Parkdale and another in Scarborough at 158 Borough Drive.
- "For generations people have come from every single corner of the earth to build a life here in Toronto," Carney said at a news conference Wednesday afternoon.
- "Crucial to this is to build a healthy rental market for every kind of renter."
- Toronto Mayor Chow said the buildings will bring housing security to thousands of people.
- "If you work here, you should be able to afford to live here," she said.
- Projects will be divided into two channels, with a non-market, non-profit channel and a market-rate housing channel.
- Non-market, non-profit housing channel delivered through Build Canada Homes, a federal agency.
- The non-market channel includes more than $310 million to advance nine projects on city-owned land, totaling 1,900 homes with more than 700 affordable.
- The second channel is market-rate housing — homes built by the private sector and backed by financing, including more than $1.8 billion in federal funding for nine projects, resulting in 3,700 new homes, with more than 1,000 affordable).
- "All of these projects had been approved in the past all of them were stalled for want of financing, until today," Carney said.
- "The fact is that too many Torontonians have been struggling to afford their rent," Carney said.
- The prime minister described the buildings as not luxury condos but rather places people can afford.
CuriousCats Full Story
Key Insight
“The $2.7 billion federal pledge over three years targets 18 housing projects, including 5,600 rental homes with 1,800 deeply affordable units. Carney said 4,500 new homes will be under construction by year's end, with projects in Parkdale and Scarborough.”
CuriousCats studied:
1
iPolitics
“After spending the last few days off the public radar, Prime Minister Mark Carney heads to Toronto today, where, according to his office, he’ll team up with Toronto Mayor Olivia Chow to unveil “new measures to build affordable housing” during a mid-afternoon appearance at an unnamed location that may — or may not — include a brief back-and-forth with reporters. (2:30 p.m.)”
iPolitics →2
CBC
“The federal government is pledging $2.7 billion over three years to build more than 18 housing projects across the city of Toronto, Prime Minister Mark Carney announced Wednesday.”
CBC →Ask CuriousCats
What affordable housing measures are planned?
Who leads Toronto housing plans?
How does Billy Bishop tie in?
Are these measures similar to prior funding?
Which cities benchmark Toronto housing grants?
