A new study commissioned by the GTHA Community Housing Collaborative says a long-term strategy of renewing and expanding public housing across the Greater Toronto and Hamilton Area could generate $102 billion in combined economic and social value over the next 25 years.
The Public Housing Dividend Report, prepared by the Canadian Centre for Economic Analysis with support from Scotiabank, examines the effects of public housing investment between 2026 and 2050. The report measures economic, fiscal and social outcomes associated with different levels of investment in public housing infrastructure across the region.
The study models five investment scenarios and evaluates the impacts of both renewing existing housing stock and building new publicly owned homes. According to the report, the approach could result in nearly $50 billion in GDP impact over 25 years while generating employment, government revenues and savings in health-care and justice system costs.
The findings were presented Monday at a launch event at the Scotiabank Centre attended by representatives from housing, financial, development and health-care organizations.
The report estimates that a capital program focused on renewal and expansion could create more than 354,000 job-years of employment by 2050, reaching about 15,000 sustained full-time positions annually in sectors including construction, retail, manufacturing, transportation and professional services.
It also projects $1.8 billion in avoided costs related to emergency room visits, hospital stays and justice system events, as well as $6 billion in private investment flowing into communities where public housing is renewed and expanded.
The study further estimates that 23,000 public housing units could be added or protected from closure by 2050, housing more than 86,000 additional individuals and families. It assigns $48.3 billion in social value to outcomes including improvements in physical and mental health, family stability, housing satisfaction and community safety.
The report also projects $12.6 billion in tax revenue for federal and provincial governments over the 25-year period.
GTHA Community Housing Collaborative website photo
Federal and municipal officials said the findings highlight the broader impacts of housing investment.
“The Public Housing Dividend report makes clear that housing and the economy are deeply connected. Access to adequate, affordable housing is a foundation for better health, education, employment and financial security. It also strengthens communities and supports long-term economic growth. This report gives us the evidence for what many people already know from lived experience: when we invest in public housing, the benefits reach far beyond the people who live there. Public housing benefits all of society,” said Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario and Member of Parliament for Toronto Centre.
MP Leslie Church, Parliamentary Secretary to the Secretaries of State for Labour, for Seniors, for Children and Youth, and to the Minister of Jobs and Families (Persons with Disabilities), said the research could influence future discussions about housing policy.
“The evidence presented today will inform how society thinks about the long-term value of housing our most vulnerable neighbours well. We are proud to stand alongside the GTHA Community Housing Collaborative and Scotiabank in advancing this work. Public housing generates real returns for workers, families, seniors, and children, and for the governments that serve them.”
Toronto Mayor Olivia Chow said the report points to a range of economic and community outcomes associated with public housing investment.
“Everyone deserves a safe and affordable place to call home. This report shows that investing in public housing creates jobs, improves health outcomes, strengthens communities and saves money over the long term. When we invest in housing, we are investing in people and building a more affordable, caring and safe Toronto.”
Sean Baird, president and chief executive officer of Toronto Community Housing Corporation, said the report broadens the discussion around the role of public housing infrastructure.
“The Public Housing Dividend proves that public housing is productive infrastructure that generates measurable economic, health, and fiscal returns. Like bridges, transit, and hospitals, public housing infrastructure’s value goes far beyond its immediate purpose. It can meaningfully address the current housing crisis in the GTHA and go even further, creating value for residents, workers and businesses all across the region.”
GTHA Community Housing Collaborative website photo
Meigan Terry, executive vice-president and chief corporate and public affairs officer at Scotiabank, said the report contributes to research on the economic and social impacts of community housing.
“Access to safe, affordable housing is fundamental to building strong, inclusive communities and a resilient economy. Through ScotiaRISE, we’re proud to support research like The Public Housing Dividend Report, which helps strengthen the evidence for scaling community housing in a way that accounts for both social and economic value. Through Scotiabank’s long-standing relationship with Toronto Community Housing, we can help provide financing for community housing in the GTHA, and reinforce the importance of viewing housing as a driver of economic growth, resilience and stronger communities.”
Paul Smetanin, president of the Canadian Centre for Economic Analysis, said the report brings together several forms of analysis within a single framework.
“Until now, economic analysis, social value measurement, health-system costing, and fiscal appraisal have each told part of the public housing story in isolation. The Public Housing Dividend brings those perspectives together within a single framework for the first time. What it shows is that public housing generates a measurable, positive rate of return for residents, communities, governments, and the wider economy simultaneously. ONEMODEL, a Canadian-developed simulation platform, makes that reconciliation possible by representing people, households, buildings, businesses, and governments as one connected system.”
The GTHA Community Housing Collaborative represents six public housing providers across Toronto, Peel, York, Durham, Halton and Hamilton. Collectively, the organizations manage more than 81,500 homes and serve more than 150,000 tenants across the region.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.
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