
CTV: Tenant advocates push back on Carney’s plan for thousands of Toronto rentals
Prime Minister Mark Carney and Toronto Mayor Olivia Chow announced $2.7 billion on Wednesday towards building 18 housing projects over the next three years in a move aimed at adding thousands of new rental units to the market.
The breakdown of the funding includes $310 million that will go towards building roughly 1,900 homes on city-owned land through the Build Canada Homes federal agency — 700 of those will be supportive and affordable homes, while about 1,100 will be rent-controlled homes.
But it’s where the rest of the money is going that tenant advocacy groups are taking issue with.
Roughly $1.8 billion will be paid out in low-interest loans to private developers through the Canada Mortgage and Housing Corporation’s Apartment Construction Loan Program (ACLP), which can create roughly 3,700 rental homes in Toronto.

