Written ByToronto Mayoral candidate Gil Penalosa is on a mission to fix Toronto’s housing affordability crisis with what he’s dubbed a “renovation revolution.”
“We are in a huge housing crisis and we haven’t we haven’t done much about it, especially on affordability,” Penalosa told STOREYS. “At the same time, we have most of the area of Toronto in single-family housing where everybody has parks and roads and sidewalks and sewage and water, and we have got to put a little bit more density.”The allowances would cap the number of units per floor to two, meaning a property would need to have a three-storey building to have six units.
Part of Penalosa’s housing plan calls for leveraging the federal National Housing Strategy for homeowner loans to support these conversions. He also intends to set up a one-stop-shop office that will help owners add new units.
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