Toronto 50 Wilson Heights Boulevard | 56.55m | 17s | Greenwin/Tridel/CreateTO | Kirkor

Tridel and Greenwin will be taking this one on:

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City of Toronto and CreateTO announce development partners for two Phase One Housing Now sites to build much needed affordable and market rental housing

News Release October 19, 2021 The City of Toronto and CreateTO have announced the development partners for two Phase One Housing Now sites, as the City moves ahead in its progress on building new affordable and market rental housing. Following a competitive market offering process launched by...
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Looking forward to heads exploding in the Wilson Heights Facebook group.

I like how the renders pretend the South side of Wilson is some parkland and every building to the East is single story lol.
 
Northern Light said:
No permits even applied for............. they're not close here.
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There's almost ZERO chance that the 2019 approved zoning density limits of 11-16 storeys are still viable in Fall 2022 given the increase in Construction-Costs & Interest Rates...

The last thing that we saw in PRINT from the City has any details on the WILSON sites (Block 1 & 2) - is the "Concept 2 Keys" update from June 2022 which showed the sites with a RED status -

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HousingNowTO said:
There's almost ZERO chance that the 2019 approved zoning density limits of 11-16 storeys are still viable in Fall 2022 given the increase in Construction-Costs & Interest Rates...

The last thing that we saw in PRINT from the City has any details on the WILSON sites (Block 1 & 2) - is the "Concept 2 Keys" update from June 2022 which showed the sites with a RED status -

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There is no question in my mind, that the most pressing need here is for CMHC to step in and offer a sub-market, at-cost mortgage, directly or by way of guarantees.

That's not to suggest we can't revisit density on some of these sites, but in the best of all worlds that delays projects that will have to go, at the very least, though a C of A process, but more likely re-doing the ZBA all over again.

On some of the most under utilized sites that may be worth the hassle; but in a City short of housing and affordable housing in particular, I would not want to see projects delayed en masse.

One we'll recall, btw, you and I need to do drinks sometime to discuss whether this model is/was the right one in the first place.

I have always expressed my doubts about a process I feel under-delivers, on excessive timeliness, if everything goes perfect. So far, we're not merely far from perfect, we're at zero ground broken. Making the entire project (all of Housing Now) as conceived look very suspect.

(to be clear, I'm pro affordable housing on each and every one of these sites, I'm questioning the delivery model)
 
Northern Light said:
in the best of all worlds that delays projects that will have to go, at the very least, though a C of A process, but more likely re-doing the ZBA all over again.
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...honestly, these are the exact kinds of scenarios that the new Community Infrastructure and Housing Accelerator (CIHA) orders in Bill-109 have been created for.

CMHC or the Federal Infrastructure Bank needs to show-up with below-market long-term construction loans --- and the Provincial Minister needs to sign a bunch of CIHA orders.

We will see what happens with this Minister Clark announcement on the day after the City elections.

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Tackling Ontario's Housing Supply Crisis

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Ok, so we have an update here from next week's CreateTO agenda meeting for this site.

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For Clarity: Financing still not confirmed as at Nov 3rd, 2022: (report date); but if it comes through, they want shovels in ground no later than June 30th, 2023.

Report link: https://www.toronto.ca/legdocs/mmis/2023/ra/bgrd/backgroundfile-229880.pdf

I will update a few other threads over the course of the day; but @HousingNowTO will want to read the entire thing as will any of you who want a comprehensive update for the program.
 
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picard102 said:
Is it just me or is there a lot of feet dragging on this?
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The real foot dragging was back towards the beginning of this process; it moved far too slowly.

At this point, the problem is simply that interest rates have risen significantly as have construction costs, and whatever terms the bidder agreed to some time ago no longer made economic sense.

The fact they appear to have come to a resolution on that on two of the sites is actually encouraging, tentatively, though we'll need to see the details to be sure.
 
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