Original Article Source Credits:  Toronto.ca
Article Written By: Toronto.ca
Link to Original Article(s): 

-       https://www.toronto.ca/city-government/planning-development/planning-studies-initiatives/secondary-suites/

-       https://www.toronto.ca/city-government/planning-development/planning-studies-initiatives/changing-lanes-the-city-of-torontos-review-of-laneway-suites/

-       https://www.toronto.ca/community-people/community-partners/affordable-housing-partners/laneway-suites-program/

-       https://www.toronto.ca/city-government/planning-development/planning-studies-initiatives/garden-suites/

-       https://www.toronto.ca/community-people/community-partners/affordable-housing-partners/housingto-2020-2030-action-plan/

The topic of 'Housing supply' has always been a crucial issue in our country, especially if you reside in Toronto, the largest populous city in Canada. Leading the way, the City of Toronto has taken bold actions outlined in the HousingTO 2020-2030 initiatives. In it, you will find a multi-prong approach to help to not just increase the housing supply, but the type of housing and the promotion of items such as walkability, accessibility and inclusivity within a community. Programs such as the Development Charges Deferral Program are examples of initiatives and resources that homeowners can expect to benefit from.

Given the current rise in interest rates and inflation, it's essential to focus on functional renovations and improvements that can create additional cash flow instead of depending solely on capital appreciation.  This is exactly the initiative currently outlined by the City that will help shape a path to sustainable housing growth.

If you're a homeowner in the Greater Toronto area and would like to learn more about how you can make your property eligible for creating more residential units through secondary suites, laneway, and/or garden suites, we'd be delighted to hear from you! Feel free to book a consultation with us today.