Expect a significant housing announcement Thursday morning as representatives from all three levels of government gather in Toronto’s east end.
The news conference is set to begin at 9:30 a.m. ET.
Toronto has been struggling with a range of housing affordability issues, ranging from sky-high purchase prices to an extreme shortage of rental units to crumbling social housing. While today’s announcement is set in the city’s downtown core, it is expected to affect the entire province.
This week, Toronto city council approved an ambitious housing plan that would in part create 40,000 new affordable and supportive housing units over the next decade, but that $24 billion plan is largely contingent on other governments providing money.
Mayor John Tory and city councillors also approved a plan to increase the residential tax rate to help cover its financial commitment.
On hand for the announcement are:
- Ahmed Hussen, the federal social development minister who is also responsible for the Canada Mortgage and Housing Corporation.
- Steve Clark, Ontario’s municipal affairs minister.
- Tory and other city officials.