Toronto Affordable Housing Inclusionary Zoning Act
Requires all new residential developments of 20 or more units in Toronto to designate at least 20% of units as permanently affordable, priced at no more than 30% of median household income.
Drafted by Marcus Webb
Full Text of Proposed Bill
Section 1: Inclusionary Requirement
Any new residential development of 20 or more dwelling units within the City of Toronto shall designate a minimum of 20% of total units as affordable housing units.
Section 2: Definition of Affordable
For the purposes of this Act, 'affordable' means monthly rent or mortgage payment not exceeding 30% of the City's median household income as reported in the most recent Census.
Supporting Arguments
Toronto's average rent has increased 84% in 10 years while median wages grew only 22%. Over 90,000 households are on the social housing waitlist. Inclusionary zoning is used successfully in Vancouver, Montreal, and hundreds of cities worldwide.
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