“We’ll be at a pace of closing about one unit per day…We’ve been able to raise enough money to complete our capital repairs program for 2017. But we are out of repair dollars at the end of 2017 without support from somewhere.”
—TCHC interim CEO Greg Spearn tells the Toronto Star what the future looks like for North America’s second-largest social housing provider. While the City has invested significant amounts of money into capital repairs, the federal and provincial orders of government have not matched the funding. Buildings continue to crumble, the waiting list for subsidized housing has grown to 177,000, and thousands more units could be condemned for safety reasons by 2023 unless conditions change.