A primer on affordable housing and homelessness


Social Housing in Toronto: Basic Math



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Falvo Presentation-to-United-Church-Women 17feb2014

Social Housing in Toronto: Basic Math

  • $200K to build new unit of social housing (including cost of land). Amount gets paid over 30 years
  •  
  • $300/month (from tenant) to cover operating deficit.
  •  
  • After 30 years, major repairs necessary.
  •  
  • Nick Falvo: United Church Women (Feb. 17, 2014)

Social Housing in Ottawa

  • Construction
  • $200/ft2
  • An additional 10%-17%
  • Land
  • Sometimes free
  • TOTAL
  • $200,000
  • Nick Falvo: United Church Women (Feb. 17, 2014)

Social Housing in Ottawa (cont’d)

  • It might cost less than half of that to acquire an already-existing unit (from a private landlord, for example).
  • But such a unit likely would not last as long as a newly-built one.
  • And for some types of supportive housing (i.e. for persons with physical disabilities), housing must be purpose-built.
  • Nick Falvo: United Church Women (Feb. 17, 2014)

Land

  • Centretown Citizens Ottawa Corporation (CCOC) provides social housing in Ottawa. CCOC often pays full market value of the land for their units.
  • CCOC cannot afford to buy land in downtown Ottawa at market rates and build new. But they can afford to acquire already-existing units downtown.
  • For example, when carrying out new construction, CCOC could not afford to pay the full cost of land in the Market, Centretown, Hintonburg or the main streets of Little Italy or Chinatown.
  • Nick Falvo: United Church Women (Feb. 17, 2014)

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