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Inclusionary Zoning… Who Pays the Cost?

Inclusionary Zoning… Who Pays the Cost?

https://urbantoronto.ca/news/2019/08/considering-inclusionary-zoning-torontos-giant-leap-toward-affordable-housing

By subsidizing affordable units, the cost of non-affordable units must increase.  Developers work off a proven business model that requires a minimum % profit margin to be feasible.

Land is not going to be sold for cheaper prices simply because affordable housing is required, it will realistically increase non-affordable unit sale prices to help subsidize affordable units.

When non-affordable unit prices increase, affordable housing prices also increase, and in turn rents increase, creating a cause/effect relationship that is not sustainable.

Rather than force developers to include affordable units, the city should provide substantial incentives to the developer to provide affordable housing, either by financial or other means.

General city/provincial taxpayers should contribute to this incentive goal, since it is for the betterment and continued viability of their own city/province.  In this planner’s opinion, “TRYING” to disrupt a proven and working business model will have unforeseen consequences that in the end, will not likely yield desired holistic effect on the City.

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As we are a growing company, there are often positions available. If applying for a position, please send your resume with cover letter outlining your qualifications to the following email: urbaninmind@bell.net. We thank all those who apply, but will only respond to those individuals that are offered an interview.

About Us

At Urban in Mind, we represent developers, builders, municipalities, landlords, special interest groups, neighbourhood associations and individual residents, to name a few… all in the hope of creating “Good” development for all. With over three decades of experience in the municipal planning, education planning and development field, we are confident that your project couldn’t be in safer hands.

Victoria Colantonio

Victoria Colantonio

Planner / Senior Development Coordinator

Jason Tang

Jason Tang

Planning Technician

Dorothy Yeung

Dorothy Yeung

Planner / Development Coordinator

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