Toronto report recommends fee reductions, other steps to create new rentals

City of Toronto staff have recommended measures to develop 20,000 new rental homes, including 4,000 affordable units. The city plans to build 7,000 homes using its resources and proposes a new incentive program to expedite construction. Eligible projects must include at least 20% affordable units and start by 2026. The report also calls for provincial and federal support, including a $1 billion rebate and $7.3 billion in low-cost financing, to facilitate the initiative and create additional affordable housing.