CETANA PROOF - Flipbook - Page 15
FORWARD
FORWARD
STATE OF
THE
MARKET
STATE
OF
THE MARKET
THE NEW KID
ON
THE
BLOCK
THE
NEW
KID
ON THE BLOCK
THE PROJECT
THE PROJECT
OVERCOMING
CHALLENGES
OVERCOMING
CHALLENGES
CONCLUSION
CONCLUSION
Ontario’s Housing Target:
In 2022, the Province of Ontario announced a target of creating
1.5 million new homes across the Province in the next ten
years. According to a report released in March 2023 by the
Regional Planning Commissioners of Ontario, there are already
over 1 million approved and proposed housing units in the
development approval process. In year two of the Province’s
ten-year goal to build 1.5 million homes, the Regional Planning
Commissioners of Ontario (RPCO) has undertaken a housing
supply inventory, which already constitutes 85% the Provincial
2032 goal.
The Need for Affordable Housing:
RPCO ONTARIO’S
UNBUILT HOUSING
SUPPLY REPORT
HOUSING AND
MUNICIPAL ELECTION
PROVINCIAL
HOME OWNERSHIP
RATE
15
One of the main challenges in Ontario’s property development
portfolio is the lack of affordable housing. Over the last decade,
the high cost of housing has made it difficult for many people
to afford home ownership in Ontario. This shortage of affordable
housing has led to a growing number of people becoming homeless or living in substandard conditions. In Ontario, the homeownership rate in 2021 was 68.4%, down 3.1% from 71.4% in 2011.
