It took the Conservatives 1,121 days to approve higher density and affordable housing near TTC stations.
After three long years, the Conservatives have finally given Toronto the green light to quickly approve taller condos and apartment buildings near 120 transit stations. Toronto can now also require developers to make up to 5% of all homes in big new developments affordable for middle-income households for up to 25 years.
Here are the stations affected by this new development. They include almost all TTC subway stations.
Requiring developers build some affordable housing in big new developments near transit is an effective and proven way to build more housing and more affordable housing.
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But, goodness me, why on earth did we have to wait so long to permit more housing and more affordable housing near TTC stops?
Every year the Conservative government delayed the approval of these requests meant our city lost the opportunity to build about 9,000 affordable homes because this new rule doesn't apply to buildings that have already secured city approval.
And with the housing affordability crisis as bad as it is, we need to so much more ambitious if we want to make our city affordable.
Toronto should have the authority to require developers build a higher percentage of affordable housing for low and middle income households in all big new developments in the city, not just buildings near transit stations.
Ontario should take the lead on financing and building affordable housing on public land. That's what we're calling for with our Homes Ontario plan.
We're still reviewing the policy to understand the details. We welcome feedback.
Let's take the wins where we can.
Jessica Bell, MPP for University-Rosedale