Toronto, May 02, 2019 (GLOBE NEWSWIRE) -- The Government of Ontario’s More Homes More Choice: Ontario’s Housing Supply Action Plan demonstrates that it is committed to addressing the housing challenges facing Ontarians. The Building Industry and Land Development Association (BILD) supports today’s announcement as an important step to address the barriers to new ownership and rental housing.
“The challenge is a basic one,” said Dave Wilkes, President and CEO of BILD. Previous government policies and procedures have created structural barriers to the efficient operation of the housing market which has resulted in a generational shortfall of housing. Today, the Ford government has signalled its intent to address this problem to ensure that the right type of housing is built at the right price across the Greater Toronto Area.”
Due to a complex regulatory environment, it takes as long as 10 years to complete an average high-rise project and 11 years to complete an average low-rise project across the Greater Toronto Area (GTA). In addition, government fees, taxes and charges add as much as 25 per cent to the cost of an average new home in the region.
“It just takes too long to build new housing in the GTA,” said Wilkes. “This restricts supply and negatively impacts affordability. When you then layer on a disproportionate share of the cost for new infrastructure, parks, and municipal services to new homes, you now have the recipe for what we are currently experiencing.”
Proposed changes to clarify the procedures of the Local Planning Appeal Tribunal (LPAT) to ensure decisions are based on the best planning outcome and that the body is sustainably resourced will have a beneficial impact on supply. Currently, there are as many as 1,000 cases, representing almost 100,000 housing units across Ontario waiting for consideration at the LPAT.
Anticipated changes to development charges and the new community benefit framework will increase predictability for the industry and consumers by allowing for rates to be locked in at the time of a complete site plan or zoning application. The government also acknowledged the cumulative effect that taxes, fees and charges have on housing affordability.
The overall focus on reducing red tape and speeding approvals through modifications to the Provincial Policy Statement, The Ontario Heritage Act, The Environmental Assessment Act and many others will enable the industry to unlock housing supply.
“We need more of all types of housing across the GTA – homes for purchase, for rent and social housing. We look forward to working with all levels of government to address housing supply and affordability as the consultation on the proposed changes continues,” added Wilkes.
With 1,500 member companies, BILD is the voice of the home building, land development and professional renovation industry in the Greater Toronto Area. The building and renovation industry provides $33 billion in investment value and employs 271,000 people in the region. BILD is proudly affiliated with the Ontario and Canadian Home Builders' Associations.
-30-
For additional information or to schedule an interview, contact John Provenzano, BILD Communications and Media Relations Manager, at JProvenzano@bildgta.ca, (416) 617-7994.