Digital rendering of the development near the Waterfront Campus.
Some of the units will be designated as affordable rental housing. Image: Hines Properties
The Waterfront campus is getting new neighbours, but it‘s still uncertain as to when affordable housing will be available.On Nov. 13, city council decides if it will approve the $15 million price tag for 71- 75 affordable units in the western section of the East Bayside development instead of where it was initially assigned in the eastern section.
Canada’s, Tridell and US firm Hines contracted in 2010 to develop the condo community of East Bayside, a mixture of market rent condos and retail opportunities. In initial talks, council stipulated 20 per cent of units built must be affordable housing. Tridell & Hines proposed the units be built as part of its eastern section of the community.
The city asked for an accelerated solution since the east section was not scheduled to be completed for another 10 to 15 years. The 71-75 sooner completed units would only be part of the necessary affordable housing for the development, with the remaining suites to be built in the original eastern section.
Speaking before the affordable housing committee on Oct. 29, Sean Gadon, director of the affordable housing office, said the unique pilot project of “affordable rental housing integrated within the condominium, (was) a new and innovative way to build and operate affordable rental housing.”
Meg Davis, vice-president of development for WATERFRONToronto, in charge of revitalization of the waterfront, in a letter of support said, “the Bayside community is the ideal location to fund such a project.” The pilot project will “create a holistic community to live, work and play.”
The development will benefit students of Waterfront campus’s WAVE (Wellness, Applied Research and Visionary Education) clinics where students can practice what they are learning in return for lower costs for clients. WAVE runs dental, hearing, fitness studios, health promotion and active living clinics.
The project funding proposal, approved by the affordable housing committee, was sent to executive council where it was also approved on Oct. 30, with one ‘No’ vote from Mayor Rob Ford, who told reporters, “you don’t use your waterfront for affordable housing”.
The issue is in front of council on Nov. 13 for approval of the $15 million necessary to accommodate the sped-up time frame. If the vote is defeated the agreement reverts to the original east side development proposal with units available 10-15 years from now.Final decisions and approval will happen in the spring of 2014.
