Toronto council approves financial support to build more than 10,800 new homes

Toronto City Council approved a plan to create about 10,815 new homes, including 3,945 affordable and rent-controlled units, across 39 projects in 13 wards. Over $245 million in funding, loans, and incentives will support these developments. The city established a Housing Development Office to streamline processes and accelerate housing delivery, focusing on city-owned land and partnerships. Toronto seeks additional provincial and federal support to expand rental housing.