The City of Toronto is calling for a Federal-Provincial-City partnership to create 3,000 permanent, affordable homes over the next 24 months, for homeless, vulnerable, and marginalized residents.
While the average cost to operate a shelter bed in Toronto was more than $3,000 per month pre-COVID-19, the cost has now doubled as a result of the increased space and protective resources required by the pandemic.
Moving 3,000 people out of shelters and into permanent housing with supports could provide a cost savings of up to $15 million per month ($180 million per year) assuming COVID-19 physical distancing standards remain in place for the foreseeable future. These savings are further increased when considering the reduced costs to the healthcare, long-term care, and justice systems when people exit homelessness.
The full details of the plan, as well as the breakdown of the funding request, can be found here.