Toronto Community Housing was created in 2001 without a stable, long-term source of funding to pay for capital repairs to its housing stock, which was built or acquired with federal, provincial and municipal dollars. Today, as those buildings age, the consequences of this decision must be faced.
On average, our buildings are more than 42 years old. We will need to do over $2.6 billion in capital repairs over a decade, just to make sure that our buildings stay in fair shape.
Maintaining this housing is the right thing to do for the residents who call Toronto Community Housing home. It is also the right decision for taxpayers, who ultimately own our buildings. Our housing stock is currently worth over $9 billion, an investment that will degrade and burden taxpayers with higher long-term costs if we do not invest in renewing it.
Capital repairs tracker
The progress of the $2.6-billion, 10-year capital repair plan to renew Toronto Community Housing’s aging buildings can now be followed in real time with the
capital repairs tracker
This interactive report, available at
, tracks completed, in progress, and planned capital projects across the city.
Capital repair funds for repairs to building elements such as:
Roofs and exteriors
Heating and cooling systems
Life safety systems
Plumbing and electrical
By the numbers
Total number of buildings owned by Toronto Community Housing.
841 single family homes, 86 multi-units homes and 1227 apartment and townhome buildings.42 years
Average age of Toronto Community Housing buildings.
More than 1000 buildings are over 50 years old, while only 2 per cent (23 buildings) were built within the past 10 years.
Total amount needed for capital repairs over 10 years.
To date, Toronto Community Housing and the City of Toronto have secured just over one-third of this funding, $919 million.
Funding shortfall for capital repairs.
We are working with the City of Toronto to call upon the Provincial and Federal governments to invest in our vital housing infrastructure.
Where will the money come from?
As of January 1 2015, our 10-year capital financing plan with the City of Toronto will secure $919 million. This is just more than one-third of the $2.6 billion we need over the
next decade. With this stable funding, we are making real progress in improving the state of our aging buildings.
You can read more about how we generate revenue with the
State of Good Repair Revenue Fund
|Annual Capital Funding Over 10 Years (Operating Budget) ||$567-million |
||Property Tax Exemption Over 10 years (Education Portion) ||$91-million |
| ||Development Charge Reserve Allocation (One Time) ||$10-million |
Sale of Stand Alone Units(One Time) ||$65-million |
Mortgage Refinancing||$186-million |
The problem we face is too large to handle alone.
The Close the Housing Gap campaign called on all orders of government to come to the table. The Province of Ontario and the Government of Canada must pay their fair share if we are to keep 58,500 homes from reaching a critical state of disrepair.
||Government of Canada||$864-million |
||Government of Ontario ||$864-million |
Why does it matter now?
Because many buildings are reaching the end of their life cycles, Toronto Community Housing faces an imminent spike in repair needs over the next 10 years.
What will happen if we don’t get the funding?
Toronto Community Housing needs to invest $2.6 billion in renewing our housing infrastructure. But we only have one-third of the funding we need.
If Toronto Community Housing does not get the funding we need to maintain our homes, living conditions in communities will deteriorate as our repair index climbs. But with the support of all three orders of government, Toronto Community Housing can fix these homes.
Want to learn more?
See Toronto Community Housing's Ontario
budget submission [PDF]
for its 10-Year Capital Financing Plan.