The Place: A swanky open-concept townhouse with 22 vertical feet of windows overlooking Stanley Park. We featured another unit in the building back in 2013.
The Property: This brand-new, four-bedroom Lawrence Manor house has a large, open-concept interior, complete with glass-walled living and dining rooms. Its location at the far end of a cul-de-sac eases the drawbacks of living just off busy Avenue Road.
The Property: This three-bedroom semi in Leslieville features an open-concept main floor with a powder room for guests, a kitchen with a marble centre island and custom finishes throughout. The basement has a full kitchen, making it relatively simple to convert into an apartment with a separate entrance.
The Place: A modern stone-and-glass manse just a stone’s throw (get it?) away from the Cricket Club.
The Property: This Summerhill rowhouse is a condo alternative, with 1,600 square feet of living space, including a finished basement. Summerhill subway station is just at the corner.
The Place: An unfurnished, three-bedroom unit for rent in Yorkville’s No. 10 Bellair Residences. In 2012, we featured a lower penthouse in the building.
—The approximate amount of money allegedly stolen from people who put pre-construction deposits on units in Centrium at North York, a condo and hotel complex that still hasn’t been built on its vacant lot near Yonge and Finch. The Star reports that Meerai Cho, a lawyer who was supposed to be holding the deposits in trust, has been charged with 25 counts each of fraud, possession of property obtained by crime and breach of trust.
Toronto is mired in an affordable-housing crisis. As of June, almost 170,000 people were waiting for a place in some form of subsidized housing. If that weren’t enough, the Toronto Community Housing Corporation’s repair backlog is now estimated at $914 million, and the amount of capital funding needed over the next decade has been pegged at $2.6 billion. In July, mayoral candidate Olivia Chow offered a solution she says will help bridge the widening housing gap: as mayor, she would ask developers to voluntarily set aside 20 percent of new residential tower developments for low-income renters, creating around 15,000 new, affordable units over four years. Chow says she would defer development charges on the affordable units for 10 years, or longer if the properties stay accessible to low-income renters (lest developers snap up the promised benefits and hike the rent), saving builders almost $12,000 per one-bedroom unit. Developers that improve existing tower sites would get different kinds of incentives too.
WOULD IT WORK?
In cities like Washington D.C. and San Francisco, there are what are known as “inclusionary zoning” rules—bylaws, often mandatory ones, that try to engineer roughly what Chow is proposing. In essence, inclusionary zoning tells developers to allocate a certain percentage of new residential units to moderate- or low-income people. In New York City, newly elected mayor Bill de Blasio is trying to implement mandatory inclusionary zoning.