The following video shows Options for Homes Non-Profit Corporation:
- strives to bring home ownership within the reach of families with family incomes as low as $40,000, a goal they have achieved with all of their communities
- is well known for being the first to develop on many of Toronto’s hottest neighborhoods including the Distillery District and The Junction and will soon be adding Cranbrooke Village (Bathurst and Lawrence) to their list in 2013
The Affordable Housing Committee (2010 – 2014) oversees the activities of the Affordable Housing Office in Toronto, Ontario, Canada, such as:
- directing federal and provincial government investments in new affordable rental and ownership housing in partnership with private and non-profit developers
- delivering federal funds to repair and modify the homes of low-and-modest income seniors, disabled persons and families
- also facilitates the implementation of Housing Opportunities Toronto (HOT), the City’s 10-year affordable housing action plan
A first-of-its-kind survey of affordable home ownership was a 31-question survey conducted by the City of Toronto’s Affordable Housing Office between September and November, 2011:
- Some 236 people filled out surveys – a 40 per cent completion rate
- The surveys were distributed by six organizations which work to provide affordable homeownership:
- Habitat for Humanity Toronto
- Home Ownership Alternatives Non-Profit Corporation
- the Women’s Religious Project
- Miziwe Biik
- and Toronto Community Housing
Here are some pertinent findings of this first-of-its-kind survey of affordable home ownership:
- Government support key to low-income homeowner success
- Government funding is essential if low- and moderate-income rental households are to succeed in owning their own homes
- Almost three-quarters of respondents said they would not have been able to buy a home without financial support from governments, reports Making Homeownership Happen – Success through Partnerships (An Affordable Homeownership Client Survey from Affordable Housing Office)
- Almost four-fifths of those surveyed are satisfied with the transition to owning from renting
- Some 70 per cent said their financial stability had improved or was expected to improve
- Some 14 per cent of those surveyed had been on the social housing waiting list or were Toronto Community Housing Corporation (TCHC) tenants before becoming homeowners
- About 12 per cent earned less than $30,000 a year and 64 per cent earned between $30,000 and $70,000
Toronto City Councillor Ana Bailão (Ward 18 Davenport), Chair of the Affordable Housing Committee stated that:
- “It’s clear from these results that homeownership for low – and moderate – income households is a success story.”
- “This is government funding well spent.”
- “It allows low-income people to begin building equity and frees up affordable rental homes for those on the waiting list.”
Councillor Ana Bailão will present copies of the report to the affordable housing organizations and homeowners who assisted in the survey on:
Monday, March 12, 2012
at Members’ Lounge, Toronto City Hall, 100 Queen St. W.
The City of Toronto works with a number of groups that provide affordable home ownership opportunities.
Please contact the following community partners directly to learn what assistance they can offer:
- Toronto Community Housing and the Daniels Corporation at 416-955-0559
- Options for Homes at 416-867-1501 or www.optionsforhomes.ca/
- Neighbourhood Concepts at 416-461-4663 or neighbourhoodconcepts.ca/selling
- Habitat for Humanity Toronto at 416-755-7353 ext. 490 or www.torontohabitat.ca/apply-for-a-home/information-session-dates.html
- Aboriginal purchasers should also contact the Miziwe Biik Development Corporation at 416-640-4688, 416-640-4688 or www.mbdc.ca/housing_loans.html
Affordable Housing Committee (2010-2014)
10th floor, West Tower, City Hall
100 Queen Street West
Toronto, ON M5H 2N2email: email@example.com
Toronto, Ontario, Canada
March 9, 2012
First-of-its-kind survey of affordable home ownership
Toronto City Councillor Ana Bailão (Ward 18 Davenport), Chair of the Affordable Housing Committee, will release a first-of-its-kind survey of low and moderate income households that successfully moved to owning from renting a home with the assistance of government funding.
Councillor Bailão will present copies of the report to the affordable housing organizations and homeowners who assisted in the survey.
Date: Monday, March 12
Time: 9:30 a.m.
Location: Members’ Lounge, Toronto City Hall, 100 Queen St. W.
Toronto is Canada’s largest city and sixth largest government, and home to a diverse population of about 2.7 million people. Toronto’s government is dedicated to delivering customer service excellence, creating a transparent and accountable government, reducing the size and cost of government and building a transportation city. For information on non-emergency City services and programs, Toronto residents, businesses and visitors can dial 311, 24 hours a day, 7 days a week.
You may also want to know: