Backgrounder: Allenbury Gardens Revitalization

Backgrounder: Allenbury Gardens Revitalization

June 26, 2015

Location

Close to the Don Mills subway station and Fairview Mall, bordered by Highway 404 (east), Fairview Mall Drive (south), Godstone Road (west), and Kingslake Road and Allenbury Gardens (north).

Revitalization

  • The transformation of Allenbury Gardens into a vibrant, mixed income community began in 2010.
  • Developer Partner: FRAM
  • Toronto Community Housing residents will benefit from a total of $70,000 in scholarships and training donated by FRAM, and 10 per cent of onsite jobs will be reserved for Toronto Community Housing residents over the course of the Revitalization project
  • All residents will have the right to return to the community.
  • When complete, the new Allenbury Gardens will include:
    • New replacement Toronto Community Housing rental units: 127
    • Private market condominiums: 907
    • Total site size: 6.6 acres / 2.67 hectares (phase 1 is approximately 2.7 acres / 1.1 hectares)
    • New amenities for residents:
      • A new park, featuring a playground and a splash pad
      • 199 square metres of retail space

Progress to date

Phase 1 of the Allenbury Gardens Revitalization is currently in progress.

Phase 1 is an approximately 2.7 acre (1.1 hectare) area located at the western end of the community will include:

  • Replacement of 30 TCHC townhomemes
  • Two market condominium buildings with approximately 422 units
    • The first two market buildings, Soul and Connect Condos, were very well received by the market.

Timeline:

  • Demolition is underway
  • Construction will begin in summer 2015
  • End date: 2 years for Phase 1, Phase 2 will begin in early 2016

Toronto Community Housing's Revitalization program

Toronto Community Housing's $5 billion world-renowned Revitalization program is making real progress in creating clean, safe, affordable homes in vibrant communities like the new Allenbury Gardens. Working together with private developer partners, Toronto Community Housing is leveraging the value of its land to replace or refurbish over 5,000 Toronto Community Housing homes across Toronto.

Revitalization Communities:

Impacts of Revitalization and capital repairs

Toronto Community Housing currently has $7.5 billion in public and private investments underway or planned through its Revitalization program and 10-year capital plan.

Using funding raised with the City of Toronto, Toronto Community Housing is investing a record $175 million in 2015 in capital repairs, which will create an estimated 2,300 jobs. This follows on Toronto Community Housing's 2014 capital program, which included over 500 large-scale capital repair projects at 261 sites across the city, representing 70 per cent of the portfolio. But this money starts to run out in 2016. Unless funding is secured from the provincial and federal governments, Toronto Community Housing will have to scale back its capital program and will have board up more than 7,500 homes by 2023 as they become unsafe to live in.

A recent�third-party economic impact study (PDF)�carried out by the Canadian Centre for Economic Analysis shows the clear benefits for Toronto, the GTA and Canada over the next 30 years of making these investments.

Economic benefits

  • 220,000 person years of employment over 30 years, including an average of 14,000 jobs per year for the first 10 years.
  • $18.5 billion boost in GDP through labour and material needs, with 68 per cent of this GDP growth occurring in the Greater Toronto Area.
  • $5 billion in further private capital investment.
  • $4.5 billion in tax revenue for the federal and provincial governments, meaning they will earn back their share of the required investment within the first 10 years.

Health benefits

  • 2.1 million fewer doctor or hospital visits
  • $3.8 billion in avoided healthcare costs

Social benefits

  • Increase property values to surrounding private homes
  • 15 per cent reduction in neighbourhood crime

Environmental benefits

  • 10 per cent reduction in utility costs, a savings of $12 million per year
  • Nine�per cent reduction in greenhouse gas emissions (an average of 390 kg per home).

About Toronto Community Housing

Toronto Community Housing (www.torontohousing.ca) is Canada�s largest provider of social housing, providing homes for nearly 60,000 households with low and moderate incomes. Toronto Community Housing is working with private development partners to replace or refurbish over 5,000 homes in some of our oldest public housing developments across Toronto through our $5 billion Revitalization program.

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Media contact:

Craig Ashbourne, (416) 981-4406

media@torontohousing.ca��