All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Financial incentives are offered to developers in order to spur affordable housing, Tory remains committing to housing Syrian refugees and a possible building boom in the GTA.
Elsewhere: Home resales hit a record mark in Canada, U.S. housing starts fall to a seven month low and Europe's escalating housing crisis.
On Thursday, Mayor John Tory announced the expansion and details of an Open Door program to eliminate red tape at city hall and also provide a financial push for developers to build. “We are massively behind,” Tory said, referring to building new housing. “The days of city hall taking months and years and decades, only half the time to find ways to say no must come to an end, especially in regards to affordable housing.”
Mayor John Tory admitted he’s uncertain as to how Toronto could quickly accommodate as many as 5,000 Syrian refugees within the next two months; however, he maintained that the city will simply have to find a way to do so. “It’s a big challenge but when you’re confronted with these challenges the thing is to make sure that you meet them,” said Tory
"We have a new Humber River Hospital, for example, that moved from three sites into one and the new Oakville Hospital will be moving out of their existing premises," Hoskins told CBC News. "I'm not saying that is what will necessarily result in one of the places for accommodation but those are the opportunities I think we need to look at."
Peel Region decision could spur Caledon boom (The Star)
A historic decision by Peel Region council could lead to the creation of the GTA’s next boom city, as much of Caledon — long resistant to growth — will now be forced to develop according to provincially mandated guidelines.