Ryerson report says Toronto needs far more new rental apartments
October 12, 2017
The Toronto area needs 8,000 new rental units a year — more than four times the number it built last year — to restore the region to a healthy vacancy rate.
It also needs to wean itself from a growing reliance on the private condos that represent about a third of rentals in the city, says a report published Thursday by the Ryerson City Building Institute and Evergreen, an urban sustainability charity.
“Unless we’re going to make (home) ownership a lot more attainable, 8,000 is where we need to be at now and in the future,” said Graham Haines, research manager of the Ryerson institute.’
How Toronto’s housing costs are hampering the city’s ability to attract talent
Nov 1, 2017