Torontovibe
Senior Member
How many single people in Toronto can afford spending over 24,000 dollars a year on rent? That is NOT affordable for an average income person!
Toronto Mirvish Village (Honest Ed's Redevelopment) | 85.04m | 26s | Westbank | Henriquez Partners
- Thread starter TorontoArchitect
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innsertnamehere
Superstar
According to the post above, yes, actually it is. That it is affordable for 50% of the population that makes the median salary or above does not mean it’s affordable for the other 50% of the population with below median incomes though... and you could argue that if our affordable housing programs are only creating affordability for 50% of the population.. then we still have a long way to go.
and $2,000 is well below average for new construction space.. a one bed in this building would probably go for $2300 market today and only go up from there as the unit gets bigger. Having 2 bed units rent for $2k, which will likely be the case here, will be about 30% below market.
TrickyRicky
Senior Member
The last official statistics for median family income I can find are for 2016 at which point the median family income in Toronto (City proper not the GTA, a distinction that is important because numbers listed as "Toronto" often use the GTA number is higher) is $65,800 per year. So 1/3 of this is $1830 per month rent.
For comparison the Average Toronto (City proper) family income is $102,721. Also if we look at the Ward breakdown the median family income in University-Rosedale is $68,733 and the average family income is $170,832. So despite pockets of poverty and low income (think university students and homeless) the typical household in the area has a higher median income than the City as a whole and a substantially higher average income reflecting a significant minority of very rich people.
While as pointed out the most vulnerable in the City really can only benefit from the creation of rent geared to income units, it's notable that this area of the City is substantially represented by people at the top income segment while slightly under represented by people in the middle-area. That would actually make the affordable housing initiative announced here make sense as these "affordable" units are really useful to middle income people not low-income people. That said one wonders if 200 million dollars to help out middle-income people in a rich area of the City is prudent use of resources or just money flowing to the people most able to advocate for it. Toronto today could probably better use that Federal money creating rent geared to income units in the suburbs.
For comparison the Average Toronto (City proper) family income is $102,721. Also if we look at the Ward breakdown the median family income in University-Rosedale is $68,733 and the average family income is $170,832. So despite pockets of poverty and low income (think university students and homeless) the typical household in the area has a higher median income than the City as a whole and a substantially higher average income reflecting a significant minority of very rich people.
While as pointed out the most vulnerable in the City really can only benefit from the creation of rent geared to income units, it's notable that this area of the City is substantially represented by people at the top income segment while slightly under represented by people in the middle-area. That would actually make the affordable housing initiative announced here make sense as these "affordable" units are really useful to middle income people not low-income people. That said one wonders if 200 million dollars to help out middle-income people in a rich area of the City is prudent use of resources or just money flowing to the people most able to advocate for it. Toronto today could probably better use that Federal money creating rent geared to income units in the suburbs.
AlbertC
Superstar
DavidCapizzano
Senior Member
RES Precast was sharing some mockups of the facade in their story a few weeks ago and it looks really nice! I recommend following them on insta as they post neat drive by shots and behind the scenes stuff at the plant.
Contra
Senior Member
You know you're an architecture fan when you're following a pre-cast company's Instagram!
AlbertC
Superstar
AlbertC
Superstar
Feb 7, 2020
drum118
Superstar
Feb 16
More up on site
More up on site
AlbertC
Superstar
Henriquez Partners Architects
Henriquez Partners Architects is a Vancouver, Canada-based studio committed to design excellence and socially responsible community development. Archimemo is its research arm and online journal.
henriquezpartners.com
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smably
Senior Member
Can there actually be a MUJI here? Please??
AlbertC
Superstar
I don't have the future tenancy facts, but a Muji location here would make logical sense. I just hope that the future retail on Bloor and recreated Mirvish Village on Markham Street has a healthy mix of restaurants, bars, gallery spaces, and karaoke spots, etc.
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TheKingEast
Senior Member
The "renderers" don't get enough credit. They do some great work.