Read this post aloud
The new rental building at 22 John was in the news last week for asking tenants to pay as much as 21.6% more than last year—an increase they’ve since backed down on.
A spokesperson told The Star that tenants can reduce the rent increase by signing a year-long lease instead of moving to a month-to-month agreement when their agreements come up for renewal. The increase could still be as much as 10%, however.
Chiara Padovani, a local advocate, said today on Twitter:
.@Rockport_Group got millions in public $ to build 22 John & then tried to raise rents 25%. They’ve also donated to @FrancesNunziata’s campaigns since 2014. Is that why she blocked rent control? Sign the petition & help change her mind ⬇️https://t.co/fv1ipra00O#YSW #TOpoli pic.twitter.com/vP6BwLCnJO
— Chiara Padovani (@chipadovani) November 26, 2019
Padovani, who was a rival for the councillor’s seat, has started a petition calling for rent control province wide.
It’s a bit more complicated than that.
Rockport did not receive city tax money to build for-profit rentals. They received waivers and $7 million in provincial and federal money—but it was to build below-market apartments and public spaces. 22 John is a mixed-use building, with a jumble of market and subsidized spaces.
Rockport only received help to build the below-market spaces. They built the for-profit spaces with their own money. Those rents are—rightly or wrongly—theirs alone to set.
Frances Nunziata, rightly, voted against applying rent control on buildings just like 22 John: buildings in which mixed incomes live together. It was perfectly reasonable to do that; after all, mixed-income buildings are good and should be encouraged.