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.’