TCH repairs would boost Toronto's economy, study suggests
A new report suggests repairing Toronto's aging social housing stock would give a multi-billion dollar boost to the city's economy.
The economic impact study — released Monday morning by Mayor John Tory — was commissioned by Toronto Community Housing.
"I have always said there’s both a moral case and a business case for all governments to invest in doing these repairs," Tory told reporters.
TCH has said it must spend $2.6 billion over the next decade to fix aging buildings that will otherwise become unlivable.
Tory has described the need for repairs as a "crisis" and, on Monday, repeated earlier calls on the provincial and federal governments to chip in on the bill.
"It doesn’t make sense for property taxpayers in this city to be bearing this huge housing repair bill." Tory said.
"Why would we let these housing units quite literally fall apart? We would not neglect our own homes this way, and these are our own homes, that we own collectively, for the benefits of some of our fellow citizens who are struggling."
The study shows that revitalizing TCH buildings would lead to more than 14,000 construction jobs, and almost 4,000 permanent positions. It also says it would result in more than two million fewer visits to doctors and emergency rooms, and a 15 per cent reduction in crime.
