Rental Housing Supply Program

Capital Funding Stream

The Call for Applications under the Capital Funding Stream is currently open. More details are available here.

Eligibility:

• Community Housing Providers and Private Sector Housing Organizations are eligible to apply
• Projects must create net new rental housing where there is a landlord-tenant relationship and tenants are recognized by the Residential Tenancies Act, 2006, or non-profit housing co-operatives as defined in the Co-operative Corporations Act.
• A minimum of 20% of units must be affordable (see Current Rent Levels dropdown for maximum rent levels) and meet other City requirements for the operation of affordable rental housing.
• Affordable rents maintained for at least 40 years, targeting 99 years
• More detailed eligibility requirements are available on the Open Calls for Affordable Housing Initiatives webpage.

Process:

• Applications for Capital Funding will be received through an open Call for Applications on a time-limited basis, and will be subject to a thorough eligibility review, evaluation, and scoring by City staff.
• Applicants are reminded that funding is limited and projects may not be approved for the full amount of funding requested in their application.
• Final confirmation of successful projects and funding amounts is subject to approval by City Council.

Available Financial Support:

• Capital funding of up to $260,000 per Affordable Rental Home.
• Actual funding amounts are subject to a competitive evaluation led by City staff, and will be identified after contributions from the Applicant, other government sources, and construction financing have been maximized.

Call for applications is currently open.

Purpose-Built Rental Housing Incentives Stream

There are currently no open Calls for Applications under this stream. Never miss an update – sign up below to be notified when affordable rental and ownership housing RFPs/Calls for Applications are made available.

Eligibility:

• All non-profit and private housing organizations were eligible to apply
• 20% of units were required to be affordable (see affordable rents below)
• Affordable rents were required to be maintained for at least 40 years, targeting 99 years

Available Financial Support

• For Purpose-built rental homes, indefinite deferral of development charges (municipal portion only)
• 15% reduction of the municipal portion of the existing New Multi-Residential Property Class rate – eligible Multi-Residential Properties will automatically qualify for the discounted rate that receive a building permit after the enactment of the subclass bylaw (1251-2024) on November 14, 2024, regardless of whether or not the project was approved as part of the Purpose-built Rental Stream
• For Affordable Rental Homes, exemption of development charges (municipal portion only), Community Benefit Charges, Parkland Dedication fees (cash in-lieu), Planning Application Fees, Building Permit Fees, and Residential Property Taxes (for the term of affordability)

Affordable Rental and Rent-Controlled Housing Incentives Stream

Eligibility:

Affordable Rental Housing

• A minimum of 20% of units must be Affordable (see Current Rent Levels dropdown for maximum rent levels) and meet other City requirements for the operation of affordable rental housing
• Rents may increase by no more than the Provincial Rent Increase Guideline annually​
• Units must be kept affordable for a minimum of 40 years​
• Units may also be operated as rent-geared-to-income (RGI) housing, or as supportive housing​

Rent-Controlled Housing (Community Housing Providers Only)

• Rents are above RHSP Current Rent Levels, but no higher than 150% of AMR for the City of Toronto, by unit type ​
• Rents may increase by no more than the Provincial Rent Increase Guideline +2% annually​
• Units must be kept at this rent level and rent-controlled for a minimum of 40 years​
• Only available to Community Housing providers

Available Financial Support

• Exemption of development charges (municipal portion only), Community Benefit Charges, Parkland Dedication fees (cash in-lieu), Planning Application Fees, Building Permit Fees, and Residential Property Taxes (for the term of affordability).

Calls for application are currently open.

Community Housing Pre-Development Fund (CHPF)

There are currently no open Calls for Applications for Community Housing Pre-Development Funds. Never miss an update – sign up below to be notified when affordable rental and ownership housing RFPs/Calls for Applications are made available.

Eligibility:

• Non-profit housing organizations eligible to apply.
• A minimum of 20% of units must be Affordable (see Current Rent Levels dropdown for maximum rent levels)
• Affordable rents maintained for at least 40 years, targeting 99 years

Available Financial Support

• This funding is provided in the form of an interest free repayable loan to ensure an ongoing, revolving fund for pre-development is available for Community Housing Providers in the city over a long-term period.
• Eligible projects will be provided funding for eligible pre-development due diligence work up to a maximum of $50,000 per affordable unit.

RHSP Current Rent Levels

RHSP Current Affordable Rents

The Rental Housing Supply Program incorporates an income-based definition of Affordable Rental Housing, which aligns with both the City’s Official Plan and the Provincial definition under the Development Charges Act. The Program will apply the lower of the provincially-set affordable rents, as issued in “Affordable Residential Units bulletin ”, and the City’s income-based definition of affordable rental housing under the Official Plan, as they are both updated.

Unit Type	Affordable Rents
Studio	$1,109
1-bedroom	$1,404
2-bedroom	$1,985
3-bedroom	$2,190

 

RHSP Current Rent-Controlled Rents

The Rental Housing Supply Program includes measures to support the delivery of rent-controlled homes with a target of approving 17,500 units by 2030. Through this report, a new program definition for Rent-Controlled Homes is established whereby monthly rents are above the affordable rents, and at or below 150% of the average City of Toronto rent, by unit type, as reported annually by Canada Mortgage and Housing Corporation, when first rented to a new tenant.

Unit Type	150% Average Market Rent
Studio	$2,184
1-bedroom	$2,572
2-bedroom	$2,977
3-bedroom	$3,385

Background

• • Rental Housing Supply Program – Report (PH13.8)
  • Build More Homes: Expanding Incentives for Purpose-built Rental Housing report (EX18.2)