Toronto multiplex policy aimed at boosting housing welcomed by observers
CTV
A new policy allowing single family homes to be converted into low-rise multiplexes in Toronto is being hailed by observers as a welcome move, although experts warn it won't make housing more affordable in Canada's most populous city right away.
A new policy allowing single family homes to be converted into low-rise multiplexes in Toronto is being hailed by observers as a welcome move, although experts warn it won't make housing more affordable in Canada's most populous city right away.
Toronto councillors voted in May to amend a zoning bylaw to allow up to four residential units in a multiplex with the aim of increasing housing supply to meet skyrocketing demand.
The move could transform up to 70 per cent of what's known as the city's "yellowbelt," where only one single family dwelling per lot was previously permitted.
Experts say the change has the potential to address a severe housing shortage but caution that it may not tackle housing unaffordability -- at least in the short term.
"Increasing density is good but it isn't definitely the answer to everything," said Penelope Gurstein, the co-director at the Housing Research Collaborative, which studies affordable housing strategies.
The new multiplex policy will increase land values, she said, and steps must be taken to ensure some level of affordability.
