10-year capital plan

10-year capital plan

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​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 repairs.torontohousing.ca, tracks completed, in progress, and planned capital projects across the city.​

Capital repair funds for repairs to building elements such as:​​​

​​​​Roofs and exteriors​​​
Roofs and exteriors
Heating and cooling systems​​​​​
Heating and cooling systems
Interior spaces
Interior spaces
Life safety systems​​
Life safety systems
Parking garages
Parking garages
Plumbing and electrical
Plumbing and electrical

By the numbers

​​​Building2154
Total number of buildings owned by Toronto Community Housing.
841 single family homes, 86 multi-units homes and 1227 apartment and townhome buildings​.

Building42 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.


Canadian Dollar and a graph$2.6 billion
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.

Canadian Dollar and an arrow symbol pointing down$1.73 billion
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?

 

​Secured funding

As of June 2017, our 10-year capital financing plan with the City of Toronto has identified $1.239-billion. ​With this stable funding, we are making real progress in improving the state of our aging buildings.


capital funding.jpg
Annual Capital Repair Funding Over 10 Years (Operating Budget)​ $296-million
Property Tax ​​Ex​emption Over 10 years $90-million
Development Charge Re​serve Allocatio​n $10-million
Sale ​of Stand Alone Units $78-million
capital funding.jpg​City loans refinancing​$33-million
Mortgage ​​Refinan​cing​$786-million ​
​​​​TOTAL: $1.239-​billion​​​​*
​*Unaudited

​​​Missing funding

​​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. ​

Govern​m​en​​t ​of ​Canada​​​$864-million​​
Government of Ontario​​ $864-million
SUB-TOTAL: $1.728 billion

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.​
A graph depicting aging buildings by year

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.

A picture depicting funds for the next 10 years and funds provided by City/TCHC

Want to learn more?

See Toronto Community Housing's Ontario budget submission [PDF]​for its 10-Year Capital Financing Plan​.

Canadian Dollar
See a detailed financial breakdown, as of April 7, 2015, of capital repairs funding sources and needs as outlined in Toronto Community Housing's​ 10-Year Capital Financing Pl​​an [PDF].​​​​​

​​ An image depicting a sale of home
Read about the sale of homes and how we generate revenue to pay for capital repairs.
State of Good Rep​​air Rev​enue​ Fund​​​

Please email public.affairs@torontohousing.ca for any questions.​

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