Northern Light
Superstar
6 x basement studios for 25-years at approx. ~812 per month (inflation adjusted).
Expect to see more of this kind of settlement - w/ fewer & smaller units for a shorter period of time at a deeper level of affordability under OPA 558.
LINK - https://www.toronto.ca/city-governm...nitiatives/definitions-of-affordable-housing/
More units, larger units for longer-period --- at a higher-rent to the owner --- is a better policy, but it would require more direct rent-subsidies from the government to cover the spread for the tenants.
View attachment 541836
In the scenario above, does rent control remain in effect for an occupied unit at the end of the 25 years, or can the developer automatically take the units full market?