In the midst of Toronto’s escalating housing crisis, the conversation often revolves around the construction of new affordable homes — and rightfully so. But there is another equally urgent battle being fought behind the scenes: saving the affordable homes that already exist.
This week’s Keys to the City highlights a powerful example of that effort, as the City of Toronto and Good Shepherd Non-Profit Homes secure 31 permanently affordable rental homes in Toronto-St. Paul’s through the Multi-Unit Residential Acquisition (MURA) program.
A Vital Acquisition in the Heart of the City
Located at 201 Vaughan Rd., the four-storey building includes 31 apartments now owned and operated by Good Shepherd Non-Profit Homes with on-site support delivered in partnership with VITA CLS, COTA, CommunitiCares and CMHA Toronto.
Thanks to $4.5 million in MURA funding, Good Shepherd was able to purchase the building out of the private market — preventing its loss to redevelopment or rent increases that would have displaced existing tenants. Since acquisition, the organization has undertaken site improvements and strengthened wraparound support services to help tenants build stability and independence.
This partnership ensures the building’s affordability will be protected forever, a key distinction from time-limited affordability arrangements often seen in private-sector developments.
Why Preservation Matters
Toronto loses more affordable rental homes each year through demolition, conversion, and price escalation than it gains through new construction.
That makes preservation a critical tool in the housing strategy.
The MURA program was launched in 2021 to combat this trend by giving non-profit housing providers the ability to purchase aging buildings, safeguard their affordability, and modernize them for long-term use.
To date, MURA has:
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Invested over $165 million
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Supported the acquisition of more than 1,000 permanently affordable homes
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Reserved 20% of funding for Indigenous housing organizations
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Strengthened the city’s goal of approving 65,000 rent-controlled homes by 2030
In many cases, preserving affordable units through MURA is faster, cheaper, and more immediate than constructing new buildings from scratch — a crucial factor at a time when demand far outpaces supply.
A Stabilizing Force for Residents
What makes this acquisition even more impactful is the model of care:
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Stable rents managed by a non-profit
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Wraparound mental health and community support services
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Physical upgrades improving the building’s condition
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Permanent affordability across all units
For residents, this is more than an apartment — it’s housing security, dignity, and the ability to plan for the future.
As Good Shepherd notes, housing is a human right and foundational to health and wellness. The preservation of 201 Vaughan Rd. reflects that principle in action.
A Model for City-Wide Housing Stability
While the GTA continues its race to build more affordable housing, this project demonstrates a second essential pillar: stop the loss of the affordable homes we already have.
By empowering non-profits to purchase rental buildings outright, the City shields tenants from displacement and ensures communities remain mixed-income and diverse.
As pressure mounts on Toronto’s aging rental stock, MURA stands as one of the most strategic, high-impact tools in the city’s housing arsenal — and its results speak for themselves.
📘 Keys to the City is GTA Weekly’s weekly spotlight on affordable housing projects across the Greater Toronto Area—because housing is the key to a stronger, more inclusive city.
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