From The NEws room
Tuesday Jan 15th, 2019Share
Ontario to Help Increase Housing Supply, Attract Investment and Protect Jobs in the Greater Golden Horseshoe
Proposed Changes to Growth Plan Posted for Public Comment
The Ontario government is helping to increase housing supply, attract investment and protect jobs in the Greater Golden Horseshoe by proposing changes to the region's Growth Plan.
These changes would make it faster and easier to build housing for the growing number of people who will live and work in the region in the next 20 years. The changes would allow municipalities and developers to work together to build communities that address local needs and regional priorities.
"We believe there are too many barriers standing in the way of creating housing and attracting investment in the region," said Steve Clark, Minister of Municipal Affairs and Housing. "That is why we are proposing changes to the region's growth plan to increase housing supply and bring down costs. Our government for the people is committed to ensuring Ontario remains the best place to own or rent a home, to work and to invest."
With the changes, local communities would be better able to:
- Build more housing and businesses around transit that supports growing areas;
- Attract investment, encourage businesses to create and retain jobs; and,
- Simplify growth planning in rural areas to create more housing.
The proposed changes build on feedback we heard from the business, research and development sectors, municipalities and others during detailed consultations last fall, including a growth planning forum attended by over 200 people.
- The Greater Golden Horseshoe (GGH) is home to 25 per cent of Canada’s population (2016).
- By 2041, the region is expected to house 13.5 million people and 6.3 million jobs — an increase of approximately 4 million people and 85 per cent of the province’s population growth.
- The current vacancy rate in Toronto is close to one per cent, whereas two to three per cent is generally considered to represent a balanced rental market.
- The GGH is the economic engine of Ontario and the country, generating more than 25 per cent of Canada’s Gross Domestic Product.
- The GGH is the fourth largest region in North America (after Mexico City, New York and Los Angeles) and is made up of 110 municipalities.