---
title: "Chow's first stated post-election priority: start round two of Toronto's rental homes program"
description: "Mayor-elect Olivia Chow says her first order of business in her second term is bringing a plan for 10,000 new rental homes, including 2,000 affordable units, to council for a vote."
canonical_url: "https://voche.me/on/toronto-2026/news/chow-rental-homes-round-two-november-2026"
last_updated: "2026-11-07T03:08:45.761Z"
---

Mayor-elect [Olivia Chow](/on/toronto-2026/candidates/olivia-chow) says her first stated order of business in her second term is bringing a plan to build 10,000 new rental homes in Toronto to city council for a vote, The Trillium reported on November 6.

The plan, called the Rental Housing Supply Program, offers developers tax cuts in exchange for agreeing to rent units at below-market rates for at least 40 years and start construction within 12 months. At least 2,000 of the 10,000 units are to be rented at below-market rates, as Chow promised during the October 2026 campaign.

The program is backed by a $1.5 billion deal Chow reached with Prime Minister Mark Carney and Premier Doug Ford in June. That money gave the city the financial room to fund the tax breaks needed for a second round.

## What phase one showed

The first round of the program launched in November 2024 and drew 75 applications from developers in 11 days, totalling over 32,000 potential units. The city could only approve 17 projects with about 8,000 units before the money allotted to tax breaks ran out. Five developers who had planned condominiums converted those projects to purpose-built rentals because of the incentives.

The approved projects ranged from 33 units at 2760 Dundas St. W. to 1,818 units near Lake Shore Boulevard and Spadina Avenue, The Trillium reported.

"The response from the developers exceeded our wildest expectations," Chow said in December 2024, speaking about the first round.

## Council vote still needed

The city has told developers to submit applications for round two, with a goal of 8,000 new market-rate rental units and 2,000 below-market units. But the program still needs council approval before it can formally proceed.

Chow expects the vote to pass. In 2024, the first round passed 23 to 1, with only Councillor Stephen Holyday (Etobicoke Centre) voting against.

The expected cost of the program is $460 million in lost tax revenue, according to The Trillium, citing figures the city has previously published.

## What the first council meeting covers

Chow's second term begins with the first council meeting on November 18, 2026. That is the meeting at which Chow has said she intends to bring the rental homes plan for a council vote.

Toronto residents can follow Chow's [rental homes promise](/on/toronto-2026/candidates/olivia-chow#promise-rental-homes) and her other commitments for the term on her tracker page at [/on/toronto-2026/tracker](/on/toronto-2026/tracker).

## Sitemap

See the full [sitemap](/on/toronto-2026/sitemap.md) for all pages.