Residents fear they're 'being squeezed out' of Jane and Finch due to skyrocketing rents
CBC
Skyrocketing rents among residents of the Jane and Finch area — once regarded as a community with some of the city's most affordable apartments and condominiums.
Anna-Kay Brown, an affordable housing advocate, says the development of new condos and the Finch West light rail transit line are some of the key factors driving rents up.
"[The] majority of the folks that live in this community are the ones who are working precarious jobs. Oftentimes, that's coming with little increase in their wages [or] benefits and also limits their ability to take sick days off," Brown told CBC Toronto.
"So, when they're also facing a rent increase due to new developments coming into the community or a major transportation infrastructure like a Finch West LRT, those are the small guys who oftentimes are facing the difficulty of food or rent [who are] also being squeezed out of the community."
A quick search of available units in Jane and Finch show multiple one-bedroom units listed for at least $1,900 per month. Meanwhile, rentals.ca data from last month shows that the average rent for condos and apartments in Glenfield-Jane Heights was nearly $2,200 a month — up more than $300 from a year ago. In Black Creek, there's been a nearly $500 increase since September 2019.
Brown — a community benefit coordinator at Jane and Finch Family Centre — says she has been hearing from numerous people who are being priced out, adding some have told her that in the next two years, they know for sure that they will not be able to live in the Jane and Finch community.
"They've already started to see the conversations with management for their buildings," she said.
"Your rent is going $300-$400 up just because you have a nice fancy LRT in your community [and] you can't enjoy it … you've endured four-five years of construction but most likely you're not going to be able to enjoy the benefits of it."
Brown says "rent control" is "definitely needed," although she adds there are always "loopholes" that "a lot of these big corporations that have the time, have the money, have the lawyers, have all the dollars" take advantage of.
She says renters also need to start looking at tenants' associations and start to organize themselves, while the city and the government need to do more about what rent control looks like.
About the developments happening in the Jane and Finch area, Brown said "what we're really advocating for is equity, is to be a part of the conversation on [what] does redevelopment look like in [our] community and how it impacts [us].
Real estate agent Tina Reali says the average price for a two-bedroom apartment in the area five years ago was around $1,400 or $1,500.
She agrees with Brown that the rent increases are making it difficult for residents, many of whom are low-income earners and newcomers to Canada.
"There are offer nights on leases right now, which never really happened. People are getting outbid by hundreds of dollars and …[having] a lot of difficulty finding housing that's affordable"
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