Proposed Population Density Changes in Regent Park -- Community Consultation June 10, 2013

The Regent Park community may soon see a significant population expansion.  Toronto Community Housing Corporation (TCHC) and Daniels Corporation have submitted a rezoning application to be voted upon by City Council to increase the density in Regent Park from 5400 to 7500 units. This proposed plan moves the population proportion from a approximately 60-40% split to a proposed 75-25% split (owners to renters).

There hasn't been a lot of discussion so far about why these changes are being proposed and how they affect the community, but these are significant potential changes. Today, Monday, June 10th, the City will be hosting a Community Consultation on these proposed changes at 7p.m. in the Daniels Spectrum: 585 Dundas St. East. Make sure to come out to hear more about these changes and how they may impact you.

During a recent conference held at the Canadian Urban Institute on the topic of Lessons Learned from Revitalization in Regent Park, TCHC Chief Development Officer, Greg Spearn, spoke quite candidly about the decision to shift proportions. Spearn revealed that as of the completion of Phase 2, the organization will be facing a $8million deficit, and this change keeps the Revitalization viable. 

The shift in proportion is not the only solution being proposed by the TCHC - Daniels Corp partnership. Spearn also revealed that the organization has taken on Royal Bank of Canada as a lending partner to alleviate some of the financial strain. Additionally, financial restructuring of TCHC properties and the retail development are intended to partially subsidize the Revitalization. 

Clear from the presentation, was the desire on the part of all stakeholders to find ways to continue Revitalization.

These proposed changes in proportion will likely have the largest impact, however, and it is important the community stay actively engaged in this process to ensure the health of Regent Park. Make sure to participate in these discussions.

Again, the City of Toronto will be hosting a community consultation on June 10^th at 7 p.m. at the Daniels Spectrum.  We encourage you to attend and voice your opinions.