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- Toronto has been grappling with a severe shortage of purpose-built rental housing — a problem made worse by decades of underinvestment since the early 1990s. High interest rates, rising construction costs, and inflation have further strained the market, leading to fewer new residential developments.
urbantoronto.ca/news/2024/10/city-staff-recommend-ambitious-plan-build-20000-new-rental-homes.57263
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3 days ago · City of Toronto staff are recommending – through the staff report, Build More Homes: Expanding Incentives for Purpose-Built Rental Housing – actions to support the development of 20,000 new rental homes including up to 16,000 purpose-built rental homes and a minimum of 4,000 affordable rental homes. Of this, the City is committing to build 7,000 rental homes through its own resources.
- City of Toronto report proposes measures to boost Toronto’s ...
City staff are proposing a new Rental Housing Supply Program...
- City of Toronto report proposes measures to boost Toronto’s ...
3 days ago · Toronto City staff have proposed a plan to develop 20,000 new rental homes. Detailed in a report titled Build More Homes: Expanding Incentives for Purpose-Built Rental Housing, the initiative — to be considered by the Executive Committee on November 5 and if passed, presented to City Council later in the month — aims to increase the housing supply while also making a significant portion of ...
3 days ago · As Toronto grapples with a shortage of rental housing for a growing population, city staff say council needs to incentivize the development of 20,000 new rental homes through tax and fee reductions — and they have a plan to do it."Toronto is facing a significant shortage of purpose-built rental homes due to insufficient investments from all orders of government since the early 1990s, amongst ...
3 days ago · An adequate supply of purpose-built rental homes is central to a well-functioning housing system that can meet the housing needs of current and future residents. However, Toronto is facing a shortage of purpose-built rental homes as a direct result of insufficient investments from all orders of government since the early 1990s.
Jun 6, 2024 · City staff are proposing a new Rental Housing Supply Program to advance the City’s expanded housing targets, align and build upon recent legislative changes by the Province of Ontario, and support new affordable, rent-geared-to-income (RGI), and rent-controlled homes within a broader economic context, which is making it increasingly difficult ...
Sep 15, 2023 · Toronto is facing a crushing housing shortage. Here's how a new city committee plans to tackle it. The two announcements could prove a tipping point for some projects made unviable by rising ...
Apr 20, 2023 · The report provides an update on the program to date and recommends a number of urgent actions for all orders of government to unlock purpose-built affordable and market rental housing supply in all neighbourhoods across Toronto.
