TRREB Statement on Toronto Council Motion to Allow Six-Storey Residential Buildings on Major Streets
/EIN News/ -- TORONTO, May 21, 2024 (GLOBE NEWSWIRE) -- With so many people struggling under the weight of the affordability crisis, the City of Toronto needs its elected leaders to step up and deliver policy action that is going to make a meaningful impact where it matters most. For families and individuals, housing is often the biggest monthly cost. To increase affordability, City Council must prioritize building more homes people can afford, faster.
The proposal to permit townhouses and small six-storey residential buildings on designated major streets is a promising public policy that will cut through red tape to get more affordable homes built faster. The Toronto Regional Real Estate Board (TRREB) is leading the way in calling for more as-of-right zoning in our City. This approach encourages more gentle density in existing communities and makes it easier for developers to build family-friendly homes. The proposal before City Council will upzone major streets, put more homes closer to transit, and enable builders to create more multi-family housing.
TRREB urges City Councillors to get behind a planning policy that provides for a full range of housing options for Torontonians. City Council should know that this initiative is in perfect alignment to meet the agreed upon goals when receiving the $471 million from the federal government as a part of the Housing Accelerator Fund by streamlining zoning bylaw approvals, eliminating barriers to build the housing we need, and allowing increased housing density.
City Council must think big and be bold in their approach to building housing by going further and supporting additional motions that enable more units along major streets to ensure their financial feasibility. By supporting the motion on six-storey as-of-right developments, we can take meaningful strides towards building a more vibrant, inclusive, and sustainable Toronto.
Read TRREB’s full Major Streets submission.
Jennifer Pearce
TRREB President
Media Inquiries:
Maria Karafilidis, Manager, Public Affairs maria.karafilidis@trreb.ca 416-443-8139
The Toronto Regional Real Estate Board is Canada’s largest real estate board with over 70,000 residential and commercial professionals connecting people, property and communities.
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