We have the tools to build affordable housing in Toronto

Every mayoral candidate is talking about affordability. None, however, are naming the root cause, and if we don’t name it, we’ll never generate the “whole of community” response necessary to make an impact.

In short, we have a housing affordability crisis because we haven’t invested in affordability. Nor have we mandated affordability through inclusionary zoning, squandering an opportunity to integrate affordability into every “new build” over the past 20 years.

Affordable housing is the most important infrastructure of a healthy society. A healthy city is an inclusive city in which people of all ages and incomes can live and work and where homelessness is a distant memory. Our next mayor must utilize every municipal tool to realize that outcome.

Several candidates would try to speed up the approvals process. Faster approval will simply make market housing available sooner. No matter how fast the approval, demand will outstrip supply and market values will continue trending upward.

Others are focused on protecting existing affordable rental stock. However, the bottom line is that we need to significantly increase the number of affordable homes across the city.

A common thread is the designation of surplus public land for affordable housing, a significant building block of any affordable housing strategy. However, as we’ve seen with Housing Now, the city is getting in its own way and nothing has been built since the fanfare of announcements four years ago.

Unfortunately, none of the candidates are talking about strengthening regulatory tools, about creating an inclusionary zoning regime that will deliver the desired result. Toronto Green Building Standards are a global demonstration on how to lead on sustainability. We need to do the same on affordability.

Most candidates are also ignoring “investment tools” that are within the city’s authority to implement.

The most obvious is property taxes. We have been living in a dream world, enjoying the lowest property taxes of any municipality in the region. At the same time, we’re upset that parks aren’t maintained, that garbage cans are overflowing and that our city feels like it is falling apart.

We decry homeless encampments in public parks and wonder why our shelter system is stretched beyond capacity.

Homeowners who have built wealth through real estate appreciation are disappointed that their kids can’t afford to rent or own a home in Toronto.

A mayor walking the talk on affordability will raise property taxes by the rate of inflation plus at least 3 per cent.

This will generate approximately $150 million annually beyond the amount required to keep up with inflation. Half of that “new revenue” could enhance municipal services, with the other half invested in the creation of new affordable housing.

The second tool is to waive development charges on every new affordable home, a saving that will average approximately $60,000 per home.

The third tool is to waive property taxes on new affordable rental homes, enhancing affordability by approximately $300 per month.

The waiver of development charges and property taxes would be conditional on achieving monthly lease rates no greater than 32 per cent of median household income.

Approaching senior levels of government with an empty “hat in hand” will NOT achieve the desired result. Utilizing these tools invests “skin in the game,” enhancing our ability to leverage investment by the federal and provincial governments.

Harnessing those tools also paves the way to a “whole of community” response.

Local action will generate traction, not only from Ottawa and Queen’s Park, but also from the charitable and corporate sectors. This knock-on effect will be particularly powerful if the city’s investment focus is on transitional and supportive housing, which will, in turn, significantly reduce the cost of health care.

Our new mayor has an opportunity to ignite a movement that will ensure we become the healthy, vibrant and inclusive city of our dreams. But this won’t happen by dreaming. Nor will it happen by “building more homes faster.” Simply put, it will take an ongoing investment in the future of our city.

It’s time to grow up, get real and demonstrate maturity as a city. It’s time to stop talking and start acting.