(2022, July 20). Renoviction Blights the Annex. The Annex Residents’ Association Newsletter, 1-3.
145 St. George St. mentioned in this week’s ARA Newsletter, pages 1-3.
145 St. George St. mentioned in this week’s ARA Newsletter, pages 1-3.
Take, for example, the 12-storey edifice at 145 St. George Street. Many of the current tenants have called this building home for decades – several of them for more than 40 years. But their obvious affection for the building and sense of security has been challenged recently by a proposal to demolish the structure and replace it with a 29-storey residential tower, comprising almost entirely of individually owned condominiums.
There is no question that such displacement is deplorable, notwithstanding legal strictures that allow the current residents some rights of return. But there is an equally compelling objection to such demolition that faces existing buildings in Apartment neighbourhoods- not only on St. George Street but across the city. The issue is one of sustainability – a concern that has increasing resonance as governments around the globe wrestle with solutions to climate change.
That brings us back to 145 St. George Street and similar residential mid-rise buildings that are currently threatened with replacement. The demolition of 145 St. George – a building of substance though it could admittedly benefit from proactive maintenance – flies in the face of environmental sustainability.
According to research from Steve Pomeroy, a senior research fellow at Carleton University in Ottawa, rentals that were once considered affordable are seeing significant price increases.
https://www.cbc.ca/news/canada/financialization-and-canadian-renters-1.6378257?cmp=newsletter_Marketplace%20Watchdog_6096_465017
Recently, concerns have peaked over skyrocketing housing prices, the lack of affordable housing and intensive development pressures in the Greater Toronto and Hamilton area (GTHA). The situation has prompted suggestion that the solution to these problems is to “Let Cities Sprawl” and “build baby, build!”
These kinds of proposals are likely to make developers very happy, but do little to solve the housing crisis or wider problems related to development patterns in the region.
https://theconversation.com/giving-developers-free-rein-isnt-the-solution-to-the-gtha-housing-challenges-176128
A prominent skeptic of Ontario’s ambitious housing plan has emerged — Canada’s oldest bank. The province’s Housing Affordability Task Force released a plan to build 1.5 million homes over 10 years. BMO senior economist Robert Kavcic dumped a bucket of cold water on the plan. Not only does the bank say it doesn’t make sense, they hint it sounds like Ontario’s last real estate bubble.
https://betterdwelling.com/ontarios-plan-to-build-1-5-million-homes-isnt-possible-after-peak-demand-bmo/