As an organization, Waterfront Toronto has a mandate to set aside land sufficient to accommodate 20% of residential units as Affordable Rental Housing. Waterfront Toronto defines “affordable” based on the City of Toronto’s Official Plan definition, which uses Average Market Rent (AMR) as a measure of affordability. These are figures that are published annually by Canada Mortgage and Housing Corporation. In order to be affordable, a project’s average rent can not exceed 100% AMR.
Through partnerships with other levels of government, Waterfront Toronto has been able to achieve increased levels of affordability at or below 80% of AMR. In addition to the provision of 20% affordable rental housing, 5% of units are allocated to low end of market on all lands within our control.