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City of Toronto Awards $21.5 Million in Multi-Unit Residential Acquisition Program Funding to Secure 121 Affordable Rental Homes

The City of Toronto has allocated $21.5 million through its Multi-Unit Residential Acquisition (MURA) program to five non-profit housing agencies. This funding will facilitate the purchase and conversion of 121 private market rental units into permanent affordable rental homes. Launched in 2021, MURA enables the City to swiftly secure affordable housing by collaborating with non-profit agencies to acquire market rental buildings. Approximately 261 affordable homes have been secured so far. This initiative aligns with the City’s goal of approving 40,000 affordable rental homes by 2030. The program also dedicates a portion of funding to Indigenous housing organizations and supports housing stability for Toronto residents. The City plans to further expand MURA to create over 600 affordable homes annually.

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