Toronto Mayor Olivia Chow welcomed the federal government’s housing-focused budget but was disappointed there was no money for TTC Line 2 subway cars.
“There’s a lot here,” Chow said of the budget at a news conference Tuesday. “Which means that, for Torontonians, we can start building housing, and a percentage of it will be affordable.”
The budget presented Tuesday includes $4 million over two years for Canada Lands Company to support new modular housing projects, including one in Downsview.
Additionally, the government said it was unlocking five federal properties as part of its Public Housing Land Plans to build more than 800 new homes, including 100 in Toronto’s Arbo neighbourhood.
This follows the federal government’s fall economic statement presented in November, in which Finance Minister Chrystia Freeland pledged $15 billion in new loans that could help build more than 30,000 new rental units across the country.
According to 2023 Census Metropolitan Area data, just under 10,000 new rental units were built in 2023. Toronto had the third-most units built that year, just behind Montreal and Vancouver.
“What is encouraging is addressing the issue of homelessness [and] camps,” Chow said.
“To complete the accelerated funding for housing, we already received quite a bit of that, close to 500 million. Canada’s new housing fund amounts to about 13 million, so they are different programs, making it easier to own or rent a home. […] “They are looking to develop skilled workers, trying to train skilled workers because we need them, there is an affordable housing fund coming in that amounts to around 100 million.”
The budget also includes exploring the redevelopment of National Defense properties in Toronto, Halifax and Victoria for military and civilian use.
Chow is also relieved that the refugee housing program has been renewed. The budget includes $1.1 billion over three years to expand a housing assistance program for asylum seekers and $743.5 million over five years to strengthen the asylum system and streamline application and deportation processes.
What’s not in the budget is money for new TTC subway Line 2 cars. The transit agency has said it needs at least 55 new subway cars to replace the line’s aging fleet. The province has already promised to provide $750 million in funding conditional on the federal government’s match.
Chow said he will continue negotiating with Ottawa to find funding for the subway cars.
“The feds may be looking to repurpose infrastructure funds, because there’s $20 billion for Ontario in 2024-25, so maybe some of it can be reallocated. I don’t know. That requires some negotiation and maybe they are looking for other sources of financing,” he said.
Other federal funding for Toronto includes $23 million for the Toronto International Film Festival over the next three years. There will be an additional $11 million to the Department of Canadian Heritage to support the Sikh Arts and Culture Foundation, and the ROM will create a museum space inside dedicated to the foundation’s arts, culture and heritage.
There will be $10 million in funding for repairs to the Toronto Harbourfront Center over two years, with work beginning in 2024-25.
Funding will continue to go to the Canadian Security Intelligence Service (CSIS), and is proposed to provide $114.7 million to enhance its intelligence and presence in Toronto.
Additionally, the budget includes a funding proposal for a high-frequency VIA rail train, with stops in major centers in Quebec City, Trois-Rivieres, Montreal, Ottawa, Peterborough and Toronto.