The city is making an urgent appeal to the other levels of governments to help create 3,000 permanent, affordable homes within the next 24 months for homeless, vulnerable and marginalized residents.
According to city hall, this would support the city council approved HousingTO 2020-2030 Action Plan aimed at helping over 340,000 households over the next ten years.
Of the 3,000 permanent, affordable homes, one-third would be permanent modular homes, another one-third would be affordable rental homes while portable housing benefits would help a further one-third secure housing and pay rent.
The city estimates the average cost to operate a shelter bed was more than $3,000-per-month pre-COVID.
This has now doubled as a result of the increased space and protective resources required by the pandemic.
Moving 3,000 out of shelters into these permanent housing options with supports, including for mental health, substance abuse and disabilities and senior services, could provide a savings of up to $15-million-per-month ($180-million-a-year) assuming physical distancing standards remain for the foreseeable future.