Report provides ‘high-level estimates’ and a range of units that could be created, instead of a specific number of housing units
, on Tuesday called the plan “a big step forward.” She urged council not to wait until after June’s mayoral by-election to pursue it.
Toronto has seen housing costs spiral up much faster than incomes. On Tuesday, the site rentals.ca said that the average price to rent a one-bedroom home in the cityMr. Tory campaigned last autumn on a variety of pledges to make housing more affordable, including ending zoning rules that protect single-family neighbourhoods from most forms of density. In December, his plan was approved in principle by council, which asked staff to come back in March with recommendations for its implementation.
City of Toronto staff project the development charge changes would cost the city $1.2-billion over the next decade. Ms. McKelvie said she was scheduled to meet with Ontario Finance Minister Peter Bethlenfalvy Tuesday afternoon ahead of next week’s provincial budget. Toronto’s housing report paints a picture of a city with a dire and worsening housing affordability crisis, where even solidly-employed people cannot afford decent accommodation. It notes that there is also a related but separate affordability crisis among low-income people, which staff say will require government subsidy to address.
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