Item - 2020.RA19.5

The Board of Directors of CreateTO:

1.  Directed that the Vice President of Development, CreateTO to work with the local Councillor to review an increase in the density at 405 Sherbourne Street.

2.  Directed that the confidential information contained in Confidential Attachment 1 to the report (November 20, 2020) from the Vice President Development, CreateTO remain confidential in its entirety, as it is about a position, plan, procedure, criteria or instruction to be applied to a negotiations carried on or to be carried on by or on behalf of the Board of Directors of CreateTO.

The Board of Directors of CreateTO recessed its public session to meet in closed session to consider the item as it is about a position, plan, procedure, criteria or instruction to be applied to a negotiations carried on or to be carried on by or on behalf of the Board of Directors of CreateTO.

On January 30, 2019, City Council approved a signature affordable housing initiative, "the Housing Now Initiative," to leverage City-owned land for the purpose of creating new, mixed-use, mixed-income communities. Through the Initiative, 11 properties were identified for development, with the potential to create a total of 10,000 new residential units. On May 28, 2020, Council approved the addition of 6 more sites to the Housing Now Initiative with the potential to create 1,455 to 1,700 residential units.  The Housing Now Initiative is coordinated through a Steering Committee composed of senior staff from the Housing Secretariat, City Planning and CreateTO. The purpose of this report is to provide a broad status update on the progress made to-date on the 17 properties.