Two-year moratorium on Toronto's development boundaries urged

A Toronto environmental group is calling for the cessation of the development boundaries of regional municipalities for the next two years, until updated census information is available.
 
Said data would allow Toronto authorities to develop the precise amount of land needed without harming the natural expanse around the city, the Friends of the Greenbelt Foundation told the Toronto Star.
 
With the provincial government already predicting lower population growth compared to 4 years ago, former Waterloo Region director of planning Kevin Eby said that such a moratorium makes plenty of sense.
 
“There's enough of a question now about the population forecasts that we shouldn't be bringing any more land in until the 2016 census is released,” Eby wrote in the report for the Foundation. “We're not saying that there shall never be expansions again or municipalities have to create hard boundaries.”
 
And while builders might counter that the proposal would lead to a shortage of new homes (and by extension, even greater price growth), the Foundation argued that the development sector’s current paradigm in determining boundaries is “fatally flawed”.
 
“They're just projecting the same building forward so you're getting a double whammy of poor planning. On one hand you're over-projecting how much land you need and then you're projecting on historical evidence that we clearly know is changing. What we build now is completely different than what we built 10 years ago,” Foundation CEO Burkhard Mausberg said.
 
Scarcity has been a long-running theme in the Toronto housing saga. In late July, the Building Industry and Land Development Association (BILD) reported that the availability of new homes in the city has declined to merely a tenth of what it was compared to a decade ago.
 
Supply in the GTA dwindled to just a little over a thousand homes in June 2016 compared to 10,823 a decade ago. This sharp drop accompanied an unprecedented growth in prices in every type of residential real estate, BILD added.

Related Stories:

Government should focus on supply-side solutions - economist

Toronto supply a tenth of what it was compared to 2006 - BILD


 

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COMMENTS

  • by MFenn 2016-08-20 12:34:59 AM

    Is immigration and economic growth also expected to remain static while we all wait 2 years for the bureaucracy to do its paperwork for the information?

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