Toronto City Council approved the Open Door Affordable Housing Program in 2016 to accelerate affordable housing construction by providing City financial contributions including capital funding and fees and property tax relief, fast-tracking planning approvals, and activating surplus public land.
Open Door is designed to assist in achieving the goals of the City's Housing Opportunities Toronto: An Affordable Housing Action Plan 2010-2020 (HOT). HOT sets targets of 1,000 new affordable rental and 400 new affordable ownership homes annually. Council also approved Open Door’s Investment Plan for 2016-2020 that provides funding to achieve the five-year targets of 5,000 new affordable rental and 2,000 new affordable ownership homes.
Open Door also calls on the federal and provincial governments to speed the delivery of affordable housing by releasing surplus public land, making new investments in affordable housing and increasing financial and tax incentives for developers.
The first Open Door call for applications closed May 31, 2017. Staff recommendations concerning the successful proponents will be considered by the Affordable Housing Committee on September, 20th, by Executive Committee on September 26th and by City Council at its October 2-4 meeting.
NOTE: Watch this site for details of the next Open Door call for applications in early 2018.
News release (PDF)