A primer on affordable housing and homelessness

Social Housing in Toronto: Basic Math

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Bog'liq
Falvo Presentation-to-United-Church-Women 17feb2014

$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.

Cost of Building a Large One-Bedroom Apartment (or Small Two-Bedroom Apartment)
Construction	$200/ft2
Soft Costs i.e. architect, legal fees, other professionals	An additional 10%-17%
Land	Sometimes free

TOTAL	$200,000

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.

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.

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