The City of Toronto’s Planning and Housing Committee has voted to advance the new Inclusionary Zoning policy in an effort to ensure more affordable housing units are built in the future. The committee, including Mayor John Tory, approved a staff report proposing an Inclusionary Zoning Official Plan amendment, Zoning Bylaw amendment and draft Implementation Guidelines. If adopted by City Council at the November meeting, Toronto will be the first city in Ontario to implement this tool, which will make it mandatory for certain developments to include affordable housing.
“I’m proud to support our Inclusionary Zoning plan – the first of its kind in Ontario,” said Mayor Tory. “This will get more affordable housing built in our city and the one-year review of the policy the committee supported today will ensure we strike the right balance. Moving ahead with comprehensive, equitable policies such as the proposed Inclusionary Zoning is the right move forward to ensure that our city supports its residents, builds inclusive communities and remains vibrant and strong. I’m pleased to see Toronto leading this shift in development in Ontario to ensure that affordable housing is consistently available and that affordability is protected for the future.”
If implemented, the plan would secure five to 10 per cent of condominium developments as affordable housing beginning in 2022, increasing to eight per cent to 22 per cent by 2030. The amount of affordable housing required would vary depending on the area of the city, with the highest requirements in the downtown.
Toronto’s Inclusionary Zoning policy framework proposes foundational requirements for affordable housing in new development that will ensure affordability is maintained for 99 years. Rents and ownership prices would be based on proposed new income-based definitions of affordable housing, targeting households with an annual income of between $32,486 and $91,611.
Already used in more than 800 jurisdictions in the U.S., Australia and Canada, no two cities have the same Inclusionary Zoning policy, as each is tailored to the municipality’s local housing market and needs. Toronto’s proposed policy was developed based on what it calls a “detailed financial impact analysis”, including a peer review and input received through extensive consultation.
“Implementing the Inclusionary Zoning policy in Toronto will keep us on the road to our goal of creating 40,000 affordable homes by 2030,” siad Deputy Mayor Ana Bailão (Davenport), Chair of the Planning and Housing Committee. “Having a consistent approach to affordable housing development will ensure that building inclusive, balanced communities that support our residents are top of mind in all new development plans.”
According to the official press release, if approved, the plan would lead to the development of 40,000 affordable rental homes and 4,000 new affordable ownership homes by 2030.
