TORONTO — The City of Toronto has announced a plan to redevelop a Toronto Community Housing Corporation (TCHC) property at 1555-1575 Queen St. E. in the Queen Coxwell neighbourhood of Toronto to rebuild 120 existing units and add 630 new units of housing.
The redevelopment of the TCHC’s Don Summerville Apartments will replace the 120 TCHC units currently on the site and add 100 affordable rental apartments, 180 market rent apartments and 350 additional condo units, stated an Oct. 28 release.
The City and the TCHC is working with Context Development on the project.
The plan has been approved by the TCHC Board and City Council and will now go through a neighbourhood consultation process and city planning approvals.
Tenants living in the two existing TCHC buildings will be relocated to accommodation at other TCHC properties. All eligible tenants will have the right to return to the community once the redevelopment is completed.
The 120 units currently on site are categorized as deeply affordable — rent-geared-to-income.
The revitalization will also add 16,000 square feet of retail commercial space.
Fifty of the affordable rental units will be operated by a non-profit agency or the TCHC, and 50 will be privately owned.
A planning application will be submitted to City Planning in the coming weeks, the City said, and Toronto city council will likely vote on the planning approvals in summer 2020.
It is anticipated the new community will be ready for occupancy by late 2023.
The City’s Community Economic Development Plan for the revitalization includes a $100,000 scholarship fund for TCHC tenants, a $250,000 economic and social development fund and a minimum of $500,000 in value for job opportunities.
“As mayor, creating new, quality, affordable housing is a top priority for me. This new partnership with Context Development represents a significant investment in new affordable housing that will transform the Queen East neighbourhood,” said Toronto Mayor John Tory in the release. “Through this venture we are creating hundreds of new homes for people to enjoy in a growing and vibrant neighbourhood.”
“This will truly be a mixed income neighbourhood — with a mix of tenure types,” said Howard Cohen, president of Context. “We have come together to place a greater emphasis on rental housing with a significant component at below-market rents.”
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