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Downtown hotel-condo tower to feature low-rent housing
Jan 25, 2010
News source: TheStar.com
A recently approved tower near King St. W. and Spadina Ave. will contain something no other building in Toronto has: a floor of affordable housing built expressly for tenants who work in the building.
The agreement was brokered under Section 37 of the city's official plan, which stipulates developers have to pay fees to community benefits in exchange for higher density.
But the money isn't usually earmarked for affordable housing and is seldom used to build it, said Paul Langdon, acting manager of community policy for the planning department. Developers choose from options such as building a community centre or refurbishing a park. Affordable housing, while allowed, isn't one of the choices.
"We would like affordable housing to become a menu item ... " said Nancy Singer, executive director of Kehilla, a non-profit housing provider. "This would not be mandated, but should you have a willing local councillor, developer and non'profit, then they can engage in this
Associated Website: Downtown hotel-condo tower to feature low-rent housing
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