Wilby Crescent condos get a large grant.

City staff and the city’s most powerful politicians have given the nod to a big grant for the new condo development on Wilby Cr to help them build affordable housing.

The Executive Committee approved a $1,140,000 grant to “Ownership Alternatives Non-Profit Corporation”, which is building at 10 Wilby Cres. The money will go toward 76 affordable units.

According to staff,

City funding will compensate the non-profit groups for the City development fees and charges paid on their developments and assist in making the homes more affordable by providing an average $15,000 down-payment assistance loan for eligible purchasers.

City Council will almost certainly approve the motion at their next meeting.

Author: Adam Norman

I am raising my two children in Weston.

One thought on “Wilby Crescent condos get a large grant.”

  1. The City of Toronto has adopted a 10-year plan to assist 257,700 households struggling with high housing costs or inadequate accommodation. The Housing Opportunities Toronto Action Plan 2010-2020 focuses on upgrading existing private and social housing, creating 1,000 new affordable rental homes annually and making home ownership more affordable. To learn more visit http://www.toronto.ca/housingportal .

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