Toronto proposes $23.4-billion housing plan to address affordability crisis.

Original article via Financial Post. Click here to read.

Toronto Mayor John Tory is backing a $23.4-billion city housing proposal over the next decade that would help prevent evictions and build new rental accommodation.

The city’s tab for the HousingTO 2020-2030 Action Plan would be $8.5 billion — $5.5 billion of which is already committed — plus $14.9 billion from the province and Ottawa, according to a statement Tuesday from the city.

“This has to be a priority — we have to come together to support households who are struggling to pay the rent and keep, or put a roof over their heads,” Tory said in the statement. “Ensuring that residents in our city have access to housing will benefit our entire city.”

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