Now that the election is over, it’s time to get to work

Leading up to the provincial election, there was a broad consensus in parties’ platforms that our region’s housing affordability problem is the result of insufficient housing supply, and that action needs to be undertaken to increase it.

Now that the election is behind us, what are the practical steps that government needs to take to get the region out of this crisis? As BILD has consistently advised, action needs to focus on three key areas: Land supply, government charges on housing, and development approvals.

Accommodating future growth

Land supply is the raw ingredient without which no new housing can be built. It includes land near urban areas that is currently undeveloped, and also land within existing communities to enable intensification.

More land must be designated for future development at the outskirts of municipalities, a measure that the vast majority of residents of the GTA supports, according to a recent IPSOS survey conducted for BILD. Recognizing that it takes decades for new development to progress, this must be done now, with an eye to accommodating future growth.

Within existing municipalities, barriers must be removed to make it simpler and faster to add gentle density. This means making it easier to build “as of right” and doing away with old zoning rules that effectively exclude development from vast swaths of the urban landscape.

We must also stop taxing new housing at the current unsustainable levels. Taxes and charges from all levels of government now account for approximately 25 per cent of the cost of a new home. Those imposed at the municipal level are often the most significant, perhaps because requiring new-home owners to pay for needed services and infrastructure allows municipalities to avoid the difficult decision of raising property taxes. In fact, many municipalities are currently looking to increase the costs and taxes levied on new development. We must ensure that new homeowners are not asked to shoulder an unfair burden.

Streamlined approvals

Lastly, development approvals and requirements must be streamlined. Getting new housing built simply takes far too long in the GTA, due to unnecessarily complicated and bureaucratic approval processes. This slows down and adds costs to each new housing unit coming to market.

Fixing the GTA’s housing problem requires visionary leadership. There is no doubt that GTA residents are concerned about housing affordability and will expect governments at all levels to work towards a balanced, properly functioning housing market, where supply more accurately matches demand.

The time for debate has come to a conclusion – now it’s time for bold action to bring sustainable solutions that will turn challenges into opportunities.