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Toronto defers development charges on 3,000 condos to boost affordable housing

Summary by Ontario Construction News
Michael Lewis Toronto has approved a plan to defer development charges on 3,000 condominium units stuck in the project pipeline due to inflated costs, provided that 5 to 10 per cent of the units meet the city’s definition of affordable housing. City staff are to review residential development applications to identify multi-unit condo projects that […] The post Toronto defers development charges on 3,000 condos to boost affordable housing appeare…
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Ontario Construction NewsOntario Construction News

Toronto defers development charges on 3,000 condos to boost affordable housing

Michael Lewis Toronto has approved a plan to defer development charges on 3,000 condominium units stuck in the project pipeline due to inflated costs, provided that 5 to 10 per cent of the units meet the city’s definition of affordable housing. City staff are to review residential development applications to identify multi-unit condo projects that […] The post Toronto defers development charges on 3,000 condos to boost affordable housing appeare…

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Ontario Construction News broke the news in on Friday, April 4, 2025.
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Similar News Topics

Housing

Housing

Toronto, ON

Toronto, ON

Cost of Living

Cost of Living

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