In the face of a historic housing affordability crisis, Ontario needs to continue implementing bold policy changes that clear the way to building more homes.
The provincial government is continuing its work to address the province’s housing supply and affordability crisis with another piece of housing legislation, Cutting Red Tape to Build More Homes Act, 2024. Bill 185 will, if passed, enact several important measures Greater Toronto Area (GTA) REALTORS® have worked closely with the government and real estate industry partners on over the last year.
Specifically, the proposal to limit third-party appeals of official plans, official plan amendments, zoning by-laws, and zoning by-law amendments is a policy change that could speed up the necessary approvals to get shovels in the ground faster on new housing. The Toronto Regional Real Estate Board (TRREB) is advocating for changes to expedite housing approvals and we are encouraged the province is responding.
TRREB also acknowledges the provincial proposal to remove the requirement to have a minimum amount of parking spaces for developments near most major transit stations. This will remove thousands of dollars in construction costs per parking space, making units more affordable for home buyers and more projects viable.
Going forward, TRREB encourages the province to commit to standardized and widely accepted definitions for housing starts and completions as it tracks its progress towards meeting the 1.5 million homes target. Ontario was the first province in Canada to report on its housing supply progress and it is crucial that we continue to present a consistent picture of the progress towards our goal.
We are commending Minister Calandra and Premier Ford for introducing this piece of legislation that encourages all MPPs to get behind a bill to deliver more homes Ontario families can afford. TRREB has also worked with the Ford Government and the Ontario real estate industry to introduce six pieces of legislation, including the More Homes, More Choice Act; More Homes for Everyone Act; More Homes Built Faster Act; Affordable Homes and Good Jobs Act; Helping Homebuyers Protecting Tenants Act; and Strong Mayors, Building Homes Act.
Jennifer Pearce
TRREB President