City council on Wednesday adopted a new inclusionary zoning policy that, starting next year, will require new developments in what the city calls “protected major transit station areas” to reserve 5% to 10% of condo developments as affordable housing — ratios that increase to as high as 22% by 2022.
Units would be priced to appeal to those earning between $32,486 and $91,611 — and depending on income, could see rent for one bedroom units going for $1,090 per month, with two- and three-bedroom units priced at $1,661 and $1,858 respectively, according to a report from chief planner Gregg Lintern.
Ownership options could see prices as low as $151,000 for a studio unit, ranging to $291,700 for a three-bedroom, again depending on income.
Debate on the motion took up much of council’s first sitting day.
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Toronto City Council adopts new Inclusionary Zoning policy to get more affordable housing built.
Councilor Mike Layton called the inclusionary zoning policy a “once-in-a-generation” policy that’s decades overdue.
“We’re in a housing emergency,” he said. “We have people being evicted across the city, most people paying over 40% of their income to housing, and more people than ever sleeping in parks.”
Councillor Brad Bradford said that while the policy isn’t perfect, it’s one that tries to strike a balance between the needs of the residents and the realities of zoning governance.
“In a housing crisis, we really can’t be risking further delay,” he said, adding that Toronto is expected to add 700,000 people and 450,000 new jobs by 2050.
“Unfortunately, whether we like it or not, that means accounting for the realities of the development and planning regime of Ontario, with different local markets across the City of Toronto, and of course the political realities of today.”
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The policy, Bradford added, wasn’t written on social media, with petitions, or on the floor of the council chambers — but by experts conducting an inordinate amount of consultation.
Toronto can’t afford to turn housing debates into the kind of partisan wranglings that hobbled transit growth, he said.
Layton’s motion for a more aggressive roll-out — one that he said could double the number of affordable units but that opponents cautioned could put the plan into jeopardy by developer lobbyists and the province — was defeated.
The motion passed 23 to 2, with Councillors Michael Ford and Stephen Holyday voting against.
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Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.