Mirvish Village (Honest Ed's Redevelopment) | 85m | 26s | Westbank | Henriquez Partners

TrickyRicky

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The 1/3 median income units are interesting. If it’s individual median income than you are talking around $830 per month in rent. If it’s family median income around $1800 per month. Those are good rates especially for new build units but it also depends what kind of unit we are talking about: 2 bedroom? 1 bedroom? Bachelor unit?

My contribution to area nostalgia: $6.50 pitchers at the dance cave!
 

Bayer

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The family median income in Toronto in 2017 was about $83,000. Thirty per cent of that is $2,075 a month, which is negligibly less than market rates. We need rent geared to income and social housing, not this somewhat twisted notion of affordability.
 

Torontovibe

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How many single people in Toronto can afford spending over 24,000 dollars a year on rent? That is NOT affordable for an average income person!
 

innsertnamehere

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How many single people in Toronto can afford spending over 24,000 dollars a year on rent? That is NOT affordable for an average income person!
According to the post above, yes, actually it is. That it is affordable for 50% of the population that makes the median salary or above does not mean it’s affordable for the other 50% of the population with below median incomes though... and you could argue that if our affordable housing programs are only creating affordability for 50% of the population.. then we still have a long way to go.

and $2,000 is well below average for new construction space.. a one bed in this building would probably go for $2300 market today and only go up from there as the unit gets bigger. Having 2 bed units rent for $2k, which will likely be the case here, will be about 30% below market.
 

TrickyRicky

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The last official statistics for median family income I can find are for 2016 at which point the median family income in Toronto (City proper not the GTA, a distinction that is important because numbers listed as "Toronto" often use the GTA number is higher) is $65,800 per year. So 1/3 of this is $1830 per month rent.

For comparison the Average Toronto (City proper) family income is $102,721. Also if we look at the Ward breakdown the median family income in University-Rosedale is $68,733 and the average family income is $170,832. So despite pockets of poverty and low income (think university students and homeless) the typical household in the area has a higher median income than the City as a whole and a substantially higher average income reflecting a significant minority of very rich people.

While as pointed out the most vulnerable in the City really can only benefit from the creation of rent geared to income units, it's notable that this area of the City is substantially represented by people at the top income segment while slightly under represented by people in the middle-area. That would actually make the affordable housing initiative announced here make sense as these "affordable" units are really useful to middle income people not low-income people. That said one wonders if 200 million dollars to help out middle-income people in a rich area of the City is prudent use of resources or just money flowing to the people most able to advocate for it. Toronto today could probably better use that Federal money creating rent geared to income units in the suburbs.
 

Contra

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RES Precast was sharing some mockups of the facade in their story a few weeks ago and it looks really nice! I recommend following them on insta as they post neat drive by shots and behind the scenes stuff at the plant.
You know you're an architecture fan when you're following a pre-cast company's Instagram!
 

AlbertC

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