TRREB Statement on Toronto City Council’s Approval of Townhomes and Small Six-Storey Residential Units Along Major Roads
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TORONTO, May 24, 2024 (GLOBE NEWSWIRE) — The Toronto Regional Real Estate Board (TRREB) continues to support the Expanding Housing Options in Neighborhoods (EHON) initiative which aims to build more low-rise housing in residential neighborhoods to meet the needs of our residents. A growing city.
The decision last night by Toronto City Council to allow six-storey townhomes and condominiums with a maximum of 60 units to be built right along arterial roads is a big win for housing affordability. The council's decision builds on a less ambitious original plan to only allow townhomes and small condominiums with a maximum of 30 units on the “edges of neighborhoods” and along some major roads. Expanding the original plan to build more homes is a momentous decision that will benefit generations of Toronto residents.
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TRREB urged the City Council to approve this proposal, and we are pleased to see this ambitious pillar of the EHON initiative moving forward.
This change will also make Toronto a more equitable and inclusive city by reversing decades of zoning policy that has historically been used to prevent more units from being built in existing neighbourhoods. For too long, Toronto's planning policies have forced families and working individuals to live on the fringes of the city and endure long commutes. The council's decision will help create more affordable units in each neighborhood so people can live closer to where they work and play.
TRREB also recognizes City of Toronto Mayor Olivia Chao and Councilor Brad Bradford for their tireless efforts to ensure Toronto rises to the challenge of its historic affordability crisis. Toronto is fortunate to have civic leaders who work hard to ensure our city remains one of the best places to live.
Jennifer Pierce
Chairman of TRREB
Media inquiries:
Maria Karavelidis, Director of Public Affairs maria.karafilidis@trreb.ca 416-443-8139
the Toronto Regional Real Estate Board It is Canada's largest real estate board with more than 70,000 residential and commercial professionals connecting people, properties and communities.
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