Term Care for Seniors at 640 Lansdowne Avenue
EX3.6 REPORT FOR ACTION Creating New Affordable Rental Homes and Long- Term Care For Seniors at 640 Lansdowne Avenue Date: March 12, 2019 To: Executive Committee From: Deputy City Manager, Community and Social Services & Deputy City Manager, Corporate Services Wards: Ward 9 - Davenport SUMMARY The number of people in Toronto aged 65 and over is expected to almost double by 2041. This growing population of seniors will spur a demand for more affordable housing as well as long-term care homes to be developed specifically to address the evolving needs of seniors in our city. In recognition of the growing urgency to provide both affordable rental and long-term care homes for seniors, at its meeting on May 22, 23 and 24, 2018, City Council requested the Director, Affordable Housing Office, in consultation with CreateTO, to include the opportunity for development of long-term care beds within the affordable housing development planned for a portion of the Toronto Transit Commission property at 640 Lansdowne Avenue. On August 2, 2018, CreateTO, on behalf of the Affordable Housing Office, issued a Request for Proposals ("RFP") for Developing and Operating Affordable Housing Services at 640 Lansdowne Avenue. The RFP offered the one-third, Mixed Use designated portion of the site under a lease arrangement for 99 years at nominal rent to stimulate development of the site and ensure long-term affordability for seniors. The RFP closed on September 6, 2018 and four submissions were received. Since September 2018, CreateTO and City staff have been in discussions with Magellan Community Charities, the proposed proponent, and this report recommends that the City enter into a Letter of Intent ("LOI"), outlining the terms and conditions of the lease and the City's Open Door incentives being provided for the up to 65 affordable rental homes being proposed.
[Show full text]