Abstract
This research makes the argument for increasing private sector participation in affordable housing development in the City of Toronto. It explores the demand for affordable rental housing in Toronto, examines the national, provincial and municipal legislative situation affecting Toronto and demonstrates the potential for the municipality of Toronto to update and implement policies to produce more affordable housing with private sector developers. Policies used across Canada and the United States to encourage or require affordable housing contributions from private sector developers are explored and case studies of Vancouver, Montreal and San Francisco highlight how municipalities facing similar housing pressures have attempted to address their situations. Interviews with key stakeholders contributed Toronto-specific ideas regarding private sector involvement in the construction of affordable rental housing as well as the accompanying policies that have potential in Toronto. Actions and policies are recommended for the consideration of the Toronto municipal government.
Highlights
Toronto is currently suffering from a shortage of affordable housing options
The decline of affordable rental housing construction and availability coupled with rising land values is a result of a systemic problem in the way the municipality and private sector are able to provide a full range of housing options to its residents
The development process plays a key role, which, in Toronto, is currently struggling to encourage private sector developers to be involved in the construction of affordable rental housing
Summary
Toronto is currently suffering from a shortage of affordable housing options. the decline of affordable rental housing construction and availability coupled with rising land values is a result of a systemic problem in the way the municipality and private sector are able to provide a full range of housing options to its residents. The Federation of Canadian Municipalities, through their campaign “Fixing Canada’s Housing Crunch” has had 181 municipalities sign a resolution asking the federal government to develop a “new Long-‐Term Federal Plan to Fix Canada’s Housing Crunch” which includes acknowledging that “housing costs...are undermining Canadians’ personal financial security...[that] those who cannot afford to purchase a home rely on the short supply of rental units...and coordinated action is required to prevent housing issues from being offloaded onto local governments” (FCM 2013) It is the intention of this research paper to suggest the ways in which this type of participation and interaction can be coordinated. How and in what situation people live directly impacts numerous types of planning issues from economic development to sustainability, from vibrant cities, to social service availability and job opportunities
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