This is an item extracted from the “City Building Bulletin” of Ryerson University. It describes one of the reasons why we have a serious housing problem for middle income families. Bill Freeman
Condos under construction in Toronto
|A new report called Bedrooms in the Sky: Is Toronto building the right condo supply? by the Ryerson City Building Institute (CBI) and real estate research firm Urbanation examines GTA condos under development to see if the coming supply will accommodate the city’s changing demographics.
“We are building an all-time high of condos, but not enough missing middle housing that’s suitable for a range of family sizes and income levels,” says Cherise Burda, Executive Director of CBI and a report co-author. “Although we’re building tall, we’re still building small units like studios and one-bedrooms. This will have serious consequences for future residents.”
The report finds that 94,000 condo apartments will be completed in the GTA over the next five years—the highest number on record—and most will be in buildings over 20 storeys. At the same time, only 38 per cent of condo apartments in development in the City of Toronto are two bedrooms and larger. The researchers suggest this will make it especially difficult in the coming years to accommodate “up-sizing” young families and downsizing senior citizens leaving their single-detached homes.