Ontario is investing more than $600 million dollars over the next three years in affordable and sustainable housing in Toronto, including millions more for repairs and retrofits to social housing buildings.
Housing Minister Chris Ballard was at 26 Grenville Street — provincial land that will be unlocked to build new affordable rental units — to highlight investments that the province is making.
In 2016-17, Ontario is contributing $42.9 million to the City of Toronto for repairs and retrofits to 26 social housing buildings, with all funds committed by March 31, 2017 and repairs to be completed by March 31, 2018. This investment will allow for the installation of energy-efficient boilers, windows, and lighting as well as the insulation of outer walls and mechanical systems.
These investments are part of Ontario’s Social Housing Apartment Retrofit Program (SHARP). The program is part of Ontario’s plan to fight climate change by investing proceeds from its carbon market into actions that help households and businesses reduce greenhouse gas emissions and save money on energy costs.
Over the next three years, the city will receive more than $130 million in additional funding for social housing repairs through the program.
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