RC104 JanFeb2023 - Magazine - Page 40
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EVENTS
HOUSING SUPPLY SUMMIT 2.0:
PROGRESS REPORT, TORONTO, ON by Grant Cameron
are key to producing more housing in Ontario. That was
the consensus of speakers, industry stakeholders, ana-
lysts and panelists who presented at a recent virtual
event—Housing Supply Summit 2.0: Progress Report—
A shortage in supply and
strong demand has been
driving homes out of
reach for many people,
says Ontario Minister
of Municipal Affairs and
Housing, Steve Clark (inset).
sponsored by the Residential Construction Council of
Ontario (RESCON). It was the second that the group has
hosted on the issue.
“For the first time, all political parties and stakeholders
fully accept that there is a supply crisis,” RESCON
president Richard Lyall explained in opening remarks at
the event. “We need all three levels of government to be
all in. If we can achieve this kind of commitment, we can
now work together to meet our housing affordability and
supply crisis with a reasonable prospect of success.”
Lyall said that RESCON has developed a 15-point
action plan that outlines five specific measures that each
level of government—federal, provincial, and municipal—
can take to help remedy the problem.
“Half measures will avail us nothing and it is definitely
not the time for weak or unfocussed action,” he said.
Municipal Affairs and Housing Minister Steve Clark
provided an update on three provincial initiatives aimed
at increasing supply, including the Strong Mayors,
Building Homes Act, which gives mayors of Toronto and
Ottawa new tools to advance housing priorities and cut
through red tape.
A shortage in supply and strong demand has been
driving homes out of reach for many people, he said, and
the government is committed to adopting measures that
will end bureaucratic inefficiencies.
He said the industry saw an uptick in new housing
builds after the More Homes, More Choice legislation
was introduced in 2019, with more than 100,000 starts in
2021—the highest since 1987.
But he promised “bold action” is on the way for
housing as the government knows it’s not enough.
Jason Mercer, chief market analyst at the Toronto
Regional Real Estate Board, indicated the housing market
is still constrained and will be for years, with families
now looking further afield for homes. Going forward, he
expects there will be a low inventory of homes for sale
with fewer listings.
Ted Tsiakopoulos, senior economist/specialist at the
Canada Mortgage and Housing Corporation, highlighted
how co-ordination between transit and land use policies
can help fill housing supply gaps.
He said there is a need for 3.5 million homes to be built
in Canada over and above the current production level
while in Ontario about 430,000 new listings, or 19 per cent
more, are needed by 2030.
“Barriers can be overcome if we take a one-team, onevision approach,” he said.
Separate panels at the event tackled what reforms are
needed to improve housing supply and how to achieve
widespread choice in housing. The consensus was that
changes are needed and that all decisions which are
made by governments should be made with housing
supply in mind.
Arash Shahi, CEO of AECO Innovation Lab, stressed
the importance of digitizing the development approvals
process and that it must be a collaboration between
government, industry, and academic institutions.
He said CMHC recently announced $2.35 million for
a proof-of-concept pilot in Simcoe County that could be
used as a model for a more streamlined development
review process across Ontario.
AECO, RESCON and organizations in the One Ontario
initiative have long maintained that there is a need for a
connected and integrated approvals system at the regional
and provincial level in the province.
Grant Cameron is senior director of public affairs at RESCON.
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