- These 11 monoliths with heights reaching as high as 59 storeys will contain over 6,900 housing units - over 65% of which will be less than the size of a double car garage.
The end result? A possible 12,000 or more people living on just 5 hectares of land with a density of 2,800 people per hectare. That’s 14 times greater than the province’s original target of 200 people and job jobs per hectare for Midtown.
- Given the scope of this TOC, other Midtown landowners will want to seek parity in terms of height and density.
If the rest of the 43 developable hectares of Midtown were developed at this level of density, it could result in over 90,000 people in Midtown, which would put Midtown beyond the highest density levels of any city in North America.
This isn't liveability and it isn't acceptable. More importantly it is not needed to achieve the province’s minimum density targets.
- For those who think building this many units will result in affordability, that's not the case.
A recent Real Estate article in the Toronto Star confirms that developers build for investors - not families. "Developers rely on pre-construction sales to fund their projects. They typically need to sell 70 to 80 per cent of a building for construction to begin and, in Ontario, 80 per cent of pre-construction condos are bought by investors. The easiest unit to sell is the cheapest one,”
In fact, most affordable housing is the result of purpose-built housing created by various levels of government or through legislated requirements for a percentage of affordable units. Market rents are rarely sufficient to cover the development and construction costs of projects. That's why private developers don't undertake them.
Families aren't any better off. That same Toronto Star article speaks of Frankensuites, the term now being used to describe family-sized units full of glass dividers around tiny rooms, bedrooms with a closet and room for a bed which you can barely walk around. One realtor interviewed said it this way: "These units are geared to unfussy post-secondary students and definitely not adults living with children, he said. “There is no counter, no island to roll out Christmas cookies.” He refers to the bar-style kitchens that now commonly back onto living spaces as “litchens.”
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