King-Victoria Transit Hub

[danbrotherston]

Quite possibly it could happen. But that is one of the most valuable pieces of land in DTK, so it would be hard to justify using it for affordable housing. The region could sell the property, buy a less expensive one with the proceeds and spend the difference funding the construction. (There are many available properties further (Kitchener) east on both Charles and King, and still very convenient to the LRT.

Well said. The laws of economics apply everywhere, not just in the unfettered free market.

I recall reading something somewhere which pointed out that it’s no surprise that it’s hard to supply affordable housing in Manhattan. Who knew that nearly free housing in Manhattan would be so popular?

I think this points to a bigger failure.

Why is the land in DTK so valuable, what is provided here that isn't provided in the rest of the city. This isn't a particularly large downtown, there isn't the same prestige for companies or people to locate here as say downtown Toronto.

So why is housing here so valuable, is it...perhaps...artificial scarcity, both of housing downtown (we have huge swaths of legislated single family housing), not to mention the legislated scarcity of walkable, transit friendly neighbourhoods in the rest of the city.

Yes, maybe we could make more affordable housing by buying suburban sprawl housing, but that's not necessarily a good (because the last thing recipients of affordable housing need to be forced to buy is a car), or equitable policy (why should only the wealthy get to enjoy a car free lifestyle).