snips from the news bit:
Total of 1,484 residential homes will be built on a former commuter parking lot
The development will include 444 condos and a mix of one- to three-bedroom rental homes that will be available to residents of various income levels.
Green said the four-block community that will be created will include a childcare centre, community space, retail space and public park.
In a news release on Tuesday, the city said crews have already begun to remove parking infrastructure to prepare the site for development. Construction is set to begin in the spring, with occupancy expected in early 2029.
I wish “affordable” was better described. What is the target rent for each income bracket? How is that being determined? And as much as I’d love to jump for joy at the idea, that’s still 5 years away from a projected finish line.
Really, eh?
To me, if it can’t be purchased by someone between the lowest end and the median of the income spectrum, then it’s not “affordable”.
Since they’re rental units by your standards they can never be affordable?
My sentiment includes renting :)
Same. “Affordable housing” used to be a straight up mathematical equation based mostly on income afaik. The Provincial government shifted to using the phrase “more affordable,” a nebulous non-definition that could mean anything from “yes, a single parent working a full time job can afford rent” to “it’s less than the million dollar condo down the hall.” As you say, the key is we don’t know atm. Add to that, will the city be capable of maintaining affordability after the Province has nuked rent control? Can we keep these units from being thousands of dollars 2 years after the doors open?
I posted in part because this project is something to keep an eye on. At the very least, this and the development at 5207 Dundas St. W. will teach us a lot about how our municipalities can get anything done these days. Also, Chow knows what she’s doing, which is strange and refreshing.
No jumping for joy here either. Just watching and staying hopeful.
[edit bc I accidentally a word]