Enabling Construction at Parkdale Hub - West Block

Parkdale Hub is a transformational city-building initiative that will deliver a wide range of social, cultural, and economic benefits to the Parkdale community. It includes a three-phase improvement and expansion of important City-owned facilities at the intersection of Queen Street West and Cowan Avenue. This intersection is a focal point of municipal and community activities and home to an important cluster of City-owned facilities, properties, and community services, all of which need significant capital investment over the next ten years to meet their projected service delivery levels. The three phases will be delivered as "blocks", across a West Block (Phase 1), Centre Block (Phase 2), and East Block (Phase 3). The West Block will be the first to be delivered among the three blocks and will be led by NLT, the non-profit Community Housing developer that has been selected through a public Request for Proposals ("RFP") process. It will contain a 16-storey mixed-use building with an estimated 175 purpose-built rental homes, 88 of which will be permanently affordable, nine of which will be rental-replacements and 78 of which will be rent-controlled homes. The project will also have approximately 23,000 square feet of community space. Once developed, the project will offer a range of affordable, family-sized and accessible homes designed to meet the diverse needs of future residents. In addition, residents will have access to culturally appropriate community supports and services helping to improve their quality of life and connection to community. City Council approval of the recommendations in this report will enable staff to secure critical financial support for the Parkdale hub development to advance construction. Additionally, the Housing Development Office will continue to work closely with NLT, and with City Divisions and Agencies to deliver the West Block and ensure a seamless integration with the delivery of the Centre Block in Phase 2.

2. City Council authorize the Executive Director, Housing Development Office, in consultation with Executive Director, Corporate Real Estate Management, to negotiate and enter into, on behalf of the City, a Memorandum of Understanding ("MOU") with Toronto Community Housing Corporation, substantially in accordance with the key terms and conditions set out in Confidential Attachment 1 to advance improvements and access arrangements at 245 Dunn Avenue in support of Parkdale Hub and on such other or amended terms and conditions acceptable to the Executive Director, Housing Development Office, and in a form satisfactory to the City Solicitor. 3. City Council authorize the Executive Director, Housing Development Office to negotiate and enter into on behalf of the City, an agreement with Toronto Community Housing Corporation to secure the funding and delivery of the necessary improvements to 245 Dunn Avenue that are required by Parkdale Hub, substantially in accordance with the terms of the MOU referred to in Part 2 above, and in a form satisfactory to the City Solicitor.