Affordable Units in New Residential Developments – Dean Gibbons

Affordable Units in New Residential Developments

By Dean Gibbons | Market News

Apr 16

As part of the Promoting Affordable Housing Act, starting on April 12, 2018, Ontario municipalities will have a new planning tool at their disposal to encourage the creation of more affordable housing units – inclusionary zoning.

The provincial government has announced that it is giving municipalities the ability to require developers to include affordable housing units for low- and middle-income families in new residential developments through inclusionary zoning.

The new inclusionary zoning by-laws will apply to developments of 10 or more units, although municipalities could choose to set a higher threshold based on local circumstances. Inclusionary zoning can also be applied to any type of residential development – both ownership and rental – based on local needs and priorities.

Each municipality will have the flexibility to decide the total number of affordable housing units to be included in some residential developments, how long units stay affordable, and what measure and incentives can be used to offset the costs of the development of those units.  

If you'd like to learn more about the province's inclusionary zoning legislation, please click here.

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