On March 6th, Toronto City Council approved the sale of 56 vacant properties in Toronto Community Housing's stand-alone housing portfolio. The provincial government still must approve these houses for sale. City Council voted to ask the province to expedite the approvals. The vacant properties are a part of Toronto Community Housing's State of Good Repair Plan
Pending the province's approval, the 56 properties will be sold on the open market to the highest bidder. The estimated proceeds, at least $20 million, will be used strictly to pay for capital repairs in Toronto Community Housing's existing buildings to improve housing for tenants.
City Council also passed a resolution asking Councillor Ana Bailão, as chair of the Affordable Housing Committee, to lead a special working group to study Toronto Community Housing's plan to sell up to 619 stand-alone properties currently occupied by tenants, and explore innovative approaches for tackling our $751 million capital repair bill. The working group will submit its final report to City Executive Committee in September.
Read more about City Council's decision here. We will post more information about the working group when it is available.