More than a hundred Toronto Community Housing Corporation-owned homes across Ward 31 and 32 are going to be sold off as part of a broader plan for the city’s public housing agency to liquidate much of its portfolio of scattered homes to non-profits.
City council approved the Tenants First project in late January. Through it, 660 houses, including detached and semi-detached homes as well as townhouses, will be transferred to non-profit housing providers such as co-ops. Eleven of these homes are located in Ward 31 and 114 are in Ward 32. TCHC will continue to operate 22 rooming houses for now.
The city said the move will help it better maintain properties, improve tenant services, and strengthen non-profits.
“It is also expected that transferring these properties out of Toronto Community Housing will enable TCHC to work more closely with larger, multi-family buildings and communities,” read a statement forwarded by city spokesperson Eric Holmes.
The city plans to put out a request for proposals this May and will ensure the homes continue to operate as per their current uses once they have changed hands. If one of the future owners tries to sell the property to a buyer who isn’t a non-profit provider, the city will take possession of the home.
“We are working with City of Toronto Legal and Real Estate Services staff to identify the best way to protect the affordable housing stock including how properties will be reverted to the City,” the city statement said.
Staff expect to present a property-transfer plan to council in early 2019. “Once the transfer plan has been approved, there will be time layered in to finalize the agreements and enter into a due diligence period,” the statement continued.