The City of Toronto announced the start of construction of 57 affordable rental homes and 256 long-term care beds, creating one dual-purpose building on city-owned land at 640 Lansdowne Ave.
“Today’s ground-breaking is more than shovels hitting the ground – it’s a powerful reminder of what we can accomplish when different orders of government work together. By pooling our resources and efforts, we can make sure Toronto residents have access to affordable housing. This new affordable rental housing and long-term care site will help us ensure seniors have secure, affordable homes where they can age with dignity, pride and comfort. As the new Mayor, I’m committed to getting this much-needed housing built as fast as possible together with our government and community partners,” said Mayor Olivia Chow.
Once the project is completed, 640 Lansdowne Ave. will include a seven-storey mixed-use building with 256 long-term care beds and 57 affordable rental homes for seniors consisting of 44 one-bedroom apartments and 13 two-bedroom apartments and non-residential space on the ground floor. Rents for affordable rental homes will be below 100 per cent of the Average Market Rent (AMR). AMR rates are set annually by the Canada Mortgage and Housing Corporation.
“The start of construction at 640 Lansdowne is an exciting milestone for the local community, the City of Toronto and CreateTO. Leading the development of the master plan, taking the property to market and negotiating the long-term lease for this site were among the first tasks undertaken by the agency. We’re proud to have played a role in this partnership with the City and Magellan to deliver much-needed long-term care homes and affordable rental housing for seniors,” said Vic Gupta, CEO, CreateTO.
CreateTO led the conceptual master plan to help guide the development of the site, issued a Request for Proposals (RFP) for a developer and operator of affordable housing services at 640 Lansdowne Ave. and participated in the lease negotiations with the successful proponent, Magellan Community Charities. Magellan Community Charities is a non-profit organization created to build and operate senior long-term care homes and affordable housing.
As part of the 640 Lansdowne Ave. redevelopment, the City will also deliver a new 2,135-square-metre park, which will help to better serve the needs of this rapidly growing urban neighbourhood by providing increased access to green space.
The 640 Lansdowne Ave. site is under a long-term lease with the TTC and the City. This development unlocks surplus City-owned land that can be leveraged to stimulate the development of affordable rental housing while maintaining long-term affordability and ensuring ongoing public ownership of the lands.
“We are excited to see this new affordable housing and long-term care facility get underway. By working together with the Province of Ontario, Government of Canada CreateTO and Magellan Community Charities, we are providing not just shelter, but a renewed sense of dignity and belonging for seniors. As we continue to implement the HousingTO 2020-2030 Action Plan, we are able to fulfill our commitments to Torontonians and ensure that more people have access to the safe and affordable housing they need,” said Councillor Gord Perks (Parkdale-High Park), Chair of the Planning and Housing Committee.
This project has been made possible through incentives and funding provided by the City, the Province of Ontario and Government of Canada. Toronto City Council approved an estimated $8.6 million in financial incentives and capital grants, including property tax and development charge exemptions and permit fee waivers, to make this site possible. The Province is providing $8.2 million for the long-term care facility at this site through the Long-Term Care Home Capital Development funding policy. The Government of Canada provided $235,800 through the Seed Funding program.
“We are embarking on a transformative journey with the Magellan Centre, a space designed to foster unity, compassion and growth within the Portuguese community. This ground-breaking ceremony marks the start of an exciting new chapter and we eagerly anticipate the positive impact this hub will bring to the lives of individuals and families. The Magellan Centre stands as a testament to our commitment to building a brighter future together for our seniors,” said Manuel DaCosta, Board Chair of Magellan Community Charities.
Featured image: (City of Toronto)