Research shows space for four million new housing units close to province’s transit hubs
TORONTO, ON – With Ontario’s home ownership rates on the decline for the first time since Confederation, the Ontario Real Estate Association (OREA) and Ontario Home Builders’ Association (OHBA) are calling on the Provincial Government to take bold action. According to new research released today by Ryerson University’s Centre for Urban Research and Land Development (CUR) and sponsored by OREA and OHBA, implementing as-of-right zoning along Ontario’s 200 major transit hubs would create room for four million new homes in the marketplace.
As-of-right zoning creates a greater range of permitted uses and pre-approves developments up to a certain height. If implemented beside these hubs, it would eliminate an onerous and often political process to build transit-oriented development. Mandating as-of-right zoning along transit corridors would reduce red tape and increase housing supply across the province, creating more affordable choices for Ontario families and first-time home buyers.
Currently, over 2,000 square kilometres of viable land exists around Ontario’s 200 transit hubs, but only 121 kilometres has been re-zoned by municipalities to support higher density transit-oriented communities. Re-zoning transit corridors could create up to 20,000 more affordable homes per year.
“Ontario’s pre-disco, early 1970s era zoning rules just don’t reflect modern consumer demand,” said Tim Hudak, OREA CEO. “Back then, cities were largely building single family homes and suburbs. Today, these out-of-date zoning rules are standing in the way of millennials, young families and the Canadian dream of home ownership.”
“Homebelievers are looking for more housing supply and choice to meet their needs. Across Ontario there is room to add housing along transit lines, but municipalities have not taken full advantage of these opportunities,” said Joe Vaccaro, OHBA CEO. “Now is the time for the province to respond to real housing demand and step in with minimum as-of-right zoning to bring more housing supply and choice to our growing communities.”
The research report – “Transit Nodes in Ontario Have Untapped Development Potential” – was commissioned as part of both OREA and OHBA’s submissions to the Ontario Government’s Housing Supply Action Plan consultation.
OREA represents 75,000 brokers and salespeople who are members of the 38 real estate boards throughout the province. OREA serves its REALTOR® members through a wide variety of professional publications, educational programs, advocacy, and other services. www.orea.com
OHBA is the voice of the land development, new housing and professional renovation industries in Ontario. OHBA represents over 4,000 member companies, organized through a network of 29 local associations across the province. www.ohba.ca