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TORONTO--The city's efforts to increase the supply of affordable rental housing is about to mean more business for Toronto's contractors and tradespeople.
The first project from the city's Let's Build program to receive final approval for construction was announced Wednesday. Let's Build officials say more projects will be announced soon.
"Today is an important day for housing in Toronto," said Councillor Brad Duguid, chairman of the Community and Neighbourhood Services Committee.
"We are actually at the stage where we are going to see construction of 74 units of much needed affordable housing."
The Amik Housing Development (Amik means beaver in Ojibwa) will be located at 419-425 Coxwell Ave.
The project includes construction of a new three-storey, 36-unit rental apartment building and the conversion of an old warehouse into a 38-unit building.
A one-bedroom apartment in the buildings will rent for under $500 per month and a two-bedroom will rent for less than $600 per month.
Duguid said the project is a partnership between the city, which donated $2.6 million through grants and by waiving fees, the Federal government (which donated just over $1 million, primarily through Canada Mortgage and Housing Corp. programs) and the Frontiers...