Toronto has a vast number of new homes planned and under construction, with over 694,818 homes in the pipeline. This includes 258,397 units approved and awaiting construction, and 436,421 units proposed and under review. These figures could provide homes for 22% of the city's residents. Toronto exceeded its 2023 housing targets, receiving a $114 million payout from the Ontario government. Despite these numbers, Toronto still falls short compared to its 2022 Development Pipeline, which listed 717,327 residential units in projects with development activity from 2017 to mid-2022.
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