Frances Nunziata has asked the city to consider reducing development charges in Mount Dennis as a pilot project, to see whether doing so would encourage builders to develop in Priority Neighbourhoods. The issue will be studied by city staff.
Nunziata’s proposal comes amidst a debate about spiking development charges across the city. Rates could almost double later this year to cover “transit, affordable housing, and… major new development areas like Port Lands, along with increasing land and construction costs.” While the charges are high—about $41,000 for a detached house and $25,000 for a 2-bedroom apartment—they do not cover the city’s costs.
Nunziata’s idea, therefore, is a beggar-thy-neighbour deal: dropping charges in priority neighbourhoods like ours will force increases on other Torontonians.