06-15-2021, 01:58 AM
Do I hear ten per cent affordable (eg 99 units)?
As a thought exercise, what proportion of every building coming down the pipeline would need to be affordable in order to wipe out the current affordable housing backlog and build a buffer for anticipated growth? Would the cities and/or Region have any hope of being able to make in roads into existing condo buildings by purchasing existing condo units? One can dream...
I know that the Region works closely with larger landlords to secure affordable apartment units in existing rental buildings. I'm not sure how that would work with individual, investor landlords who may only have a handful of units and are more interested in a long-term increase in their property value (as well as being able to pay off their mortgages).
As a thought exercise, what proportion of every building coming down the pipeline would need to be affordable in order to wipe out the current affordable housing backlog and build a buffer for anticipated growth? Would the cities and/or Region have any hope of being able to make in roads into existing condo buildings by purchasing existing condo units? One can dream...
I know that the Region works closely with larger landlords to secure affordable apartment units in existing rental buildings. I'm not sure how that would work with individual, investor landlords who may only have a handful of units and are more interested in a long-term increase in their property value (as well as being able to pay off their mortgages).