The buzz continues for the River City (map, Hive) redevelopment at King Street and River Street.

November 29, 2009

Funding of almost $23 million for 218 new affordable rental housing units for low-income families, seniors and singles was announced today in Toronto.

The Economic Action Plan, set to stimulate the economy and create jobs during the recession has made this possible with the $1.2 billion joint investment. MP Brown says, “Our government is helping Canadians during these tough economic times and giving hope to seniors, families and individuals who need quality, affordable housing that meets their needs.”

“This project represents our government’s commitment to ensuring residents in Toronto and throughout Ontario have access to affordable housing,” said MPP George Smitherman. “It will not only add significant support to the Province’s efforts to reduce poverty, but will also mean the creation of hundreds of jobs for our workers.”

“The West Don Lands neighbourhood will be a wonderful addition to our city. This community will be a beautiful, sustainable, and welcoming place for everyone to live, work, and play. I am very pleased that the City of Toronto contributed $4.3 million in waived development fees and charges and property tax exemptions to help create affordable housing for seniors and families.” said Councillor McConnell, vice-chair of the Affordable Housing Committee.

Today’s announcement celebrates funding for 218 units in two projects located at King and River Streets that will provide a total of 243 units of affordable rental housing for low-income families, singles and seniors. These homes are being developed by Toronto Community Housing and are part of the West Don Lands revitalization. The City of Toronto is increasing the number of affordable homes to 243 from 218 by directing an additional $7.49 million to this development from the provincial Developing Opportunities for Ontario Renters (DOOR) funding program, made possible through the federal Housing Trust.

Check out the neighbourhood, and walk-around below!

Developments featured in this article

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