Improved incentives for the creation of purpose-built rental housing, such as lowering fees and development charges;
In a release, the mayor added, “We’ve made strong progress over the past eight years to get housing built in Toronto, but to tackle increased affordability challenges brought on by a national housing shortage we need to build more homes, faster.” In particular, the new Development and Growth division will streamline new housing creation, acting as a central hub that would handle all aspects of the review and approval process, in efforts to speed approval times. The mayor said the division would have a particular focus on fast-tracking the approval of purpose-built rentals.
The mayor’s announcement has been warmly received by the province’s residential builders association RESCON, which stated particular support for the mandate to expand missing middle housing options, as well as allowing increased housing density on major roads and near transit arteries.
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