Is there a way that such a “Great City” like Toronto can actually have affordable housing?

BY STEVEN KASZAB

In 2016 Toronto had over 99,000 unoccupied homes. Vancouver has approximately 25,000 unoccupied houses (statistics Canada). There you go Toronto, winning a dismal statistical competition. Toronto has always been overshadowed by “other great cities” such as New York, Paris and London, England. Toronto’s inferiority complex cannot be included in its housing costs, however. This city’s housing costs will continue to grow and escalate its population’s fatalistic dreams of home ownership. Is there a way that such a “great city” like Toronto can actually have affordable housing? The above-mentioned vacant homes can be sold, re-developed into affordable housing. Homes owned by foreign interests make up much of these unused homes.

Well, if we allow three groups to take the lead regarding the housing portfolio there will be no real affordable housing in this city. The groups are real estate, developers, lobby, and our municipal governments. All are tied one to the other. Our cities are dependent upon their revenue source, and there are no real estate agencies, or developers who are willing to build affordable housing, at least in Toronto.

There was a downtown Dartmouth parking lot, aged and in need of repair. What to do? It will be transformed into affordable housing by housing development. A 20+ storey building was erected with a price range varying from $1,475.00 for a one bedroom to $1,869.00 for a two bedroom. Why can’t this be done in the Southern Ontario market? While Ontario consumers would appreciate such prices, it is not in the developer’s or real estate agent’s interest.

There is a place for an objective, socially concerned agency to work towards the establishment of publicly designed, built, and managed housing projects. Not social housing. Those who either own or rent their properties will be required to maintain a price range that cannot be escalated. Non-profit, affordable housing and privately developed and real estate sold properties cannot mix. Affordable housing demands the expulsion of private interests. If a development in Halifax can bring about affordable housing sold according to the region’s payment capabilities, why not Toronto?