
"The proposed amendment would pause inclusionary zoning in the three Ontario cities where it exists until July 2027. The planning tool lets cities compel developers to rent a portion of units below market value at 30 per cent of the household's gross income in new builds near major transit stations. The proposal comes as Ontario has fallen behind its goal of building 1.5 million new homes across the province over 10 years, prompting Municipal Affairs and Housing Minister Rob Flack to say last year it was now a "soft" target."
"The provincial government believes the change will make housing projects more viable under current market conditions, a spokesperson for Municipal Affairs and Housing Minister Rob Flack said in an email Wednesday. We need to get more shovels in the ground to build homes for families across the province, said Michael Minzak. Now is not the time to be adding unnecessary red tape and requirements that only increase the cost of building a home."
The Ontario government proposes pausing inclusionary zoning requirements near major transit hubs in Toronto, Mississauga and Kitchener until July 2027. Inclusionary zoning currently allows municipalities to require a portion of new units to be rented below market value at 30 per cent of household gross income. The province says pausing the requirement will improve project viability amid sharply higher financing and construction costs and falling housing starts. The pause is framed as a measure to accelerate housing supply after Ontario fell behind its 1.5 million-home target over ten years and to reduce perceived regulatory impediments to development.
Read at www.cbc.ca
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