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Toronto looks at forcing new condo developers to dedicate 10 per cent of residential space to affordable housing
September 23, 2020

Toronto looks at forcing new condo developers to dedicate 10 per cent of residential space to affordable housing

Toronto’s chief planner is proposing new condominium developments in parts of the city be required to dedicate 10 per cent of their space to affordable rentals or owned homes and be guaranteed affordable for 99 years.

Under the proposal, to be presented to a committee meeting on Tuesday, any condo development above a certain size in “strong market” areas of the city — including much of the old city and North Toronto, southwest Scarborough and Scarborough Town Centre, Don Mills, York Mills and South Etobicoke — would have to set aside 10 per cent of their residential area for affordable units.

That requirement would go down to five per cent in purpose-built rentals.

In “moderate market” areas like Etobicoke Centre and North York Centre, condos above a certain size would need five per cent affordable housing, and purpose-built rentals three per cent. And a portion of the affordable units would have to be available at more deeply affordable rates.

The proposal by chief planner Gregg Lintern to the planning and housing committee meeting is meant to be put to public consultations in the coming months, with the aim of a final recommendation to the committee in the first half of 2021. It outlines what’s known as ‘inclusionary zoning’, which is one of the tools the city hopes to use to reach its affordable housing targets.

Legislation introduced by the province last year restricts where inclusionary zoning can be used by municipalities to areas around major transit hubs, unless the province grants special clearance.

Keep reading on TheStar.com