Riverdale Co-op celebrates completion of affordable housing building at 685 Queen St. E.

By AMARACHI AMADIKE

The City of Toronto and Riverdale Co-operative Houses (Riverdale Co-op) officially announced the completion of an affordable housing project at 685 Queen St. E. late last month.

The redevelopment project transformed a nine-unit site into a complex with 26 affordable rental housing units.

Receiving more than $8 million in municipal funding and financial incentives such as the waiving of development fees, charges and property taxes, the newly developed building comprises studio, one-bedroom, two-bedroom and three-bedroom self-contained units.

The building’s developers put emphasis on prioritizing returning residents and existing Riverdale Co-op members needing accessible units by adding six universally accessible units to the project, as well as 10 barrier-free units. This is Riverdale Co-op’s first fully accessible building, equipped, for the first time, with an elevator.

“I’m so very happy the new Riverdale Co-op housing is complete, bringing more affordable and accessible co-operative housing to Toronto-Danforth,” said Toronto-Danforth Councillor Paula Fletcher in a city news release announcing the building’s completion on Nov. 22. “I have worked for many years to get the approvals and funding to get this great project across the finish line.”

Riverdale Co-op’s funding agreement with the City of Toronto ensures that the building will be operated as an affordable housing project in perpetuity.

According to the city’s news release, rent for these units are set at 80 per cent of the Average Market Rent (AMR) and will remain so for a 99-year affordability period.

Although, during construction, emphasis was put into residents with disabilities, the city also mandated that five of the units be reserved for artists – a move which Fletcher said will “add even more vitality to the neighbourhood”.

“A big welcome home to the residents of Riverdale Co-op who are moving back into their beautiful new building. And a big welcome to Riverside to all the new residents who will be moving in,” she said.

The building’s journey began in 1904 as a two-and-half-storey house, on the south side of Queen Street East just west of Broadview Avenue. Since then, the structure has experienced multiple expansions while keeping its original structure.

The latest expansion, however, introduced amenities for modern needs such as a rooftop patio, community room with kitchenette, a laundry room, and bicycle storage space.

“We are absolutely thrilled that our newly redeveloped building at 685 Queen St. E. is finally ready for occupancy,” said Riverdale Co-op and Co-Chair of the 685 Queen St. Redevelopment Committee Carol Watson.

Although the process for external applicants is now closed, Riverdale Co-op members can still apply for units in the building by visiting https://riverdalecoop.ca/members-only/

For more information on the building, please go to https://riverdalecoop.ca/685-queen-redevelopment/