“Multiplexes of up to four residential units can now be built in all neighbourhoods across Toronto after approval from city council, a move intended to increase low-rise housing options in existing communities.
And yesterday Doug Ford said, “It’s off the table”.
Doug Ford nixes fourplexes as part of next Ontario housing bill. “You go in the little communities and start putting up four-storey, six-storey, eight-storey buildings right deep into the communities, there’s going to be a lot of shouting and screaming. That’s a massive mistake.”
Ontario Premier Doug Ford says the province will not introduce legislation that would automatically allow fourplex homes to be built across the province by overriding any prohibitions municipalities had in place. Ford says such legislation would be a massive mistake. He says he is focused on building single-family homes and townhomes.
It’s long been rumoured that allowing fourplexes would be part of the Ford government’s latest housing bill, which is expected to be tabled after the province’s 2024 budget. However, on Thursday Ford cut this rumour down.
The Ontario Liberals will be the latest party to propose legislation that would allow developers and homeowners to build fourplexes.
On Tuesday, MPP Adil Shamji will introduce a private members’ bill that would amend official plans and zoning bylaws to allow the building of up to four residential units, up to four stories, to be built on any parcel or land zoned as “residential.”
The Liberals were unable to provide a rough estimate as to how many housing units could be opened up if developers were allowed to build fourplexes, saying only that “it’s certainly more than a drop in the bucket.”
The Liberals are not the first political party to make this suggestion. In 2023, the Ontario Green Party put forward legislation that would allow “the use of up to four residential units in a detached house, semi-detached house or rowhouse as well as multi-unit residential buildings of up to four stories.”
Neither bill will likely pass due to the Progressive Conservative majority.
Here are the top 5 trending stories of the week:
- Homeowners, realtors should take steps to protect against title fraud: experts | “It’s been years since you finished paying off your mortgage, so the letter in the mail from a bank saying you’re in default and now owe money comes as a shock. Not only did you not take out another mortgage on your property, you’ve never even dealt with that bank before. Yet the documents you’re presented with say otherwise.”
- Is it time for Canada to embrace the 30-year mortgage? | “In Canada, when talk turns to 30-year mortgages, generally we are talking about the amortization period — that is, the length of time it would take to pay off a mortgage in full, at a given monthly payment level and current interest rates. ”
- Interest Rate Cuts Likely “Over The Course Of This Year”: Bank of Canada | “The Bank of Canada (BoC) released its latest summary of deliberations this week, and, in a welcomed turn of events, has finally given Canadians a clue about rate cuts to come. Although the Bank is maintaining (as it has for some time) that it’s “still too early” to consider lowering the policy interest rate, it also said that “recent inflation data suggested monetary policy is working largely as expected,” which bodes well for cuts to come.”
- Unexpected resilience amid economic challenges showing up nationwide | “The Canadian real estate market stands as a cornerstone of the nation’s economy, reflecting not only economic conditions but also societal shifts and demographic patterns. Currently, the state of our market displays a surprising resilience against various challenges, including a looming recession, record interest rate hikes and economic stagnation reminiscent of Japan’s “lost decade.”
- Landmark U.S. settlement could impact Canadian housing market | “A substantial settlement recently announced by a U.S. group representing more than one million Realtors has real estate experts hopeful Canadian home sellers could soon get a better deal. Last week, the U.S.-based National Association of Realtors (NAR) agreed to pay $418 million US to end legal claims from home sellers that argued the group artificially inflated real estate commissions.”
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