Affordable units assigned through lottery, starting Monday

47 affordable apartments at 22 John and 33 King St will be put on the market between tomorrow, Monday, January 14 and Monday, January 28. The units will be given to lucky residents who win a lottery.

Rents for the units will be “no more than 80% of the average market rent” for at least 25 years. 12 units will be set aside seniors, and five will be for residents receiving a housing allowance.

The federal and provincial governments will contribute $7 million to the affordable units. The city will not collect development charges, property tax, or education levies, forgoing $1.2 million.

Author: Adam Norman

I am raising my two children in Weston.

4 thoughts on “Affordable units assigned through lottery, starting Monday”

  1. I thought none of these suites were supposed to be ” affordable”. I was initially glad to hear the building was catering to the area as high end. Does Weston need more low income housing?

    1. Try not to confuse affordable housing with social housing. Affordable housing is 80% of whatever the current market rent would be. So, in this case, if market rent is $1500 for a one bedroom, affordable would be $1200, which is what everyone in the city was paying before the market went crazy. Social housing is basically rent geared to income. If someone is making $1000 per month, they would pay about $350. Big difference.

      All new buildings being built in Toronto have to have some affordable housing units. The city has mandated this.

    1. Hopefully this building is up kept and keeps some sort of prestige would hate to see it fall in to disrepair and appear old and delapelated after years like many on Weston rd.

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