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Toronto multiplex
June 28, 2023

Toronto wants more multiplexes built. But how will they be financed?

Craig Race is all for seeing Toronto put more homes on existing lots.

That’s what the architect did with his own property, splitting the east-end home into two units.

He and his family live in one of those units, while the other is rented to somebody else.

Toronto has moved to ease the process of revamping homes in this manner, following a council vote last month allowing duplexes, triplexes and fourplexes across city neighbourhoods.

Those in the business of designing and building homes are enthusiastic about the potential that comes with rethinking what can be done with homes in residential neighbourhoods.

“These new changes are awesome,” said Race, who estimates he has designed some 20 multiplexes to date, including his own.

While allowing more multiplexes does nothing directly for affordability, it is intended to add to the housing supply in Canada’s largest city by adding gentle density to existing lots. 

But building a multiplex is not a budget-friendly undertaking and that raises questions about how the people seeking to build them will finance their construction.

Keep reading on cbc.ca


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