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RSS FeedsThe `More Homes´ act was introduced in May. Since then, Toronto housing applications have dipped
(The Star Books)


19 july 2019 07:34:23

The `More Homes´ act was introduced in May. Since then, Toronto housing applications have dipped
(The Star Books)

Just one new housing development of more than 10 units has been proposed in much of downtown and midtown since Premier Doug Ford’s government introduced legislation said to increase the supply of housing, an analysis of city data shows.Although the government said it was introducing the More Homes, More Choice Act in May to create more certainty and cut red tape at city hall in order to boost the amount of new housing, in the immediate wake of the bill’s introduction the opposite has happened — a lull in the supply of new housing applied for in four of the city’s development hot spots.Critics of the changes say developers may be shying away from submitting new applications with ongoing uncertainty over what they will owe the city in fees and benefits under the new system, while the development industry says there is no holding back on developments as it welcomes the new process.The analysis of city records was done by the office of Councillor Josh Matlow, who represents the densest part of the Yonge-Eglinton area and other neighbourhoods in midtown Toronto, and confirmed by the Star. It shows just 50 new units have been proposed since May 2 when Bill 108 was tabled in the Ontario legislature.The difference in the number of proposed units compared to the same period in previous years is stark.On average, the same almost 80-day period has seen about 3,700 units proposed each year from 2016 to 2018 in Ward 10 (Spadina-Fort York), Ward 11 (University-Rosedale), Ward 12 (Toronto-St. Paul’s) and Ward 13 (Toronto Centre). Read more:How much do you need to earn to afford rent in your neighbourhood? Study breaks it down by hourly wageHere’s what you’d need to earn to buy a mid-priced home in your Toronto neighbourhood — and what a typical family there earns (Hint: Not nearly enough)They cook Toronto’s food, and build its houses — but can they afford to live here?The numbers exclude non-residential applications a ...
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