TORONTO, May 11, 2023 (GLOBE NEWSWIRE) -- Toronto has a housing supply challenge and we desperately need to build more homes for families and singles if we are going to protect the Canadian dream of home ownership in our city for future generations.
Council’s decision last night to permit multiplexes to be built across Toronto as-of-right is a major step forward in our city’s work to increase housing supply and improve housing affordability. It will effectively end exclusionary single-family zoning in Toronto, an archaic rule that has kept home ownership out of reach for young families and single individuals for too long.
Legalizing multiplexes will empower the development community to build more gentle density housing types like townhomes, duplexes, triplexes and fourplexes – the kinds of homes that growing families, singles and new Canadians desperately want.
The Toronto Regional Real Estate Board (“TRREB”) is proud to have been a leading voice calling for this important change to go forward. We are confident that it will help Toronto meet its housing supply targets and benefit our great City for decades to come.
We urge all Mayoral candidates to endorse this important change and commit to keeping it in its current form should they get elected. Toronto cannot afford to go backwards on housing supply and affordability. We must continue to build more homes so future generations have a fair shot at achieving the Canadian Dream.
Paul Baron
TRREB President
Media Inquiries:
Genevieve Grant,
Manager, Public Affairs
genevieve.grant@trreb.ca
416-443-8159
The Toronto Regional Real Estate Board is Canada’s largest real estate board with almost 70,000 residential and commercial professionals connecting people, property and communities.
www.trreb.ca/
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