Ontario has approved a housing plan for Toronto to allow higher-density buildings near transit stations, aiming to create 1.5 million new homes over the next 25 years. The plan, proposed by Housing Minister Rob Flack, is expected to relieve street congestion by increasing the number of residents living close to transit. Mayor Olivia Chow noted that the previous proposal allowed only for 500,000 additional homes, marking a significant escalation. However, the updated plans still require approval from the city council. Ontario also faces a shortfall in housing starts compared to its ambitious provincial goals.
The province has approved a plan for Toronto to allow higher and denser buildings near transit stations, which will enable the creation of 1.5 million homes over 25 years.
Mayor Olivia Chow indicates that the changes would facilitate three times the number of homes originally planned five years ago, emphasizing significant growth potential.
The plan will increase density and maximum heights near 120 transit stations, with further collaboration on plans for 14 additional station areas.
Ontario's goal of building 1.5 million homes by 2031 is currently challenged, as only 94,753 housing starts were recorded last year.
#housing-policy #toronto-development #transit-oriented-development #urban-density #residential-construction
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