Dev Katyal

Bachelor Student

University of Waterloo

Transforming Housing Policy: Integrating Zoning Reforms and Rental Incentives

Connected Conference Theme: Grand Challenges

In Ontario’s Greater Golden Horseshoe, the housing crisis has left over 85,000 individuals on Toronto’s subsidized housing waitlist, highlighting a severe shortage of affordable homes. Currently, only 10% of available land is allocated for affordable housing, while a disproportionate 63.5% is reserved for high-cost detached houses, exacerbating the affordability gap; my policy offers a solution to this crisis. Firstly, by reforming rigid zoning laws to embrace mixed-use developments and higher-density housing, municipalities can expedite construction timelines. Streamlining the approval process, which currently averages 249 days and inflates costs by approximately $200,000 per project, will catalyze housing supply growth. Furthermore, with less than 10% of new builds catering to rental housing, there is an acute shortage of affordable rental options. Offering developers incentives such as tax incentives and expedited permit processing can spur the construction of purpose-built rental units. This is crucial as the region faces an anticipated shortage of 200,000 rental units over the next decade. Finally, urgent measures are needed to assist those experiencing homelessness or housing instability. Enhancing emergency shelter capacity and introducing targeted rent subsidies will provide immediate relief to vulnerable populations, including the estimated 25,000 individuals currently without stable housing in Toronto. By implementing these innovative reforms, we can meet the urgent housing needs of our communities while ensuring equitable access to safe and sustainable housing for all residents.

Disclaimer: The French version of this text has been auto-translated and has not been approved by the author.