Not everyone is happy about Toronto's plan to redevelop hundreds of parking lots

  • 📰 blogTO
  • ⏱ Reading Time:
  • 62 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 63%

Property Property Headlines News

Property Property Latest News,Property Property Headlines

Toronto may be making progress on building more desperately-needed housing, but the city has still got a way's to go if it wants to meet the demand...

, but the city has still got a way's to go if it wants to meet the demand of a too-rapidly growing population and recover any semblance of affordability.

But, while the public may be unanimously in support of the plan to reach housing targets and hopefully bring at least— which can be seen as a relatively poor use of coveted urban land — into pretty much anything else. In this case, the need for more homes in Toronto is undeniable. But, some residents are concerned about the impact less parking could have on the local economy.

Many retailers, restaurateurs and others in the city have many times expressed concerns about the impact of removing nearby parking spots, which are used by both local and out-of-town shoppers,Then there are those who fear the housing replacing City-owned lots will simply be more exorbitantly-priced condos sold to wealthy investors — not at all what Toronto needs right now., those who actually end up living there may, as much as some advocates want to wish for a car-free future.

So where are folks unable to take transit for mobility reasons supposed to park to get to nearby medical appointments? Ok for mayor who cycles all over to talk, but some people aren’t so lucky.Then there's the camp who thinks turning parking lots into homes isn't the way to tackle the city's affordability problem at its root.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 44. in PROPERTY

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Housing prices expected to hit 'bottom' in Toronto this spring: reportCanada is seeing “early signs” of a housing market upturn and Toronto could see prices bottom out this spring, a recent report from the Royal Bank of Canada says.
Source: CP24 - 🏆 30. / 67 Read more »