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Real Estate Blog
Well, it happened: Toronto will finally be moving forward with a long-discussed Inclusionary Zoning (IZ) policy designed to make living in the city more affordable.
This afternoon, city councillors voted overwhelmingly to approve the implementation of guidelines that will force developers to build affordable rental and ownership units within certain residential developments in portions of the city starting in 2022.
This long-discussed planning tool aimed at improving housing affordability in one of the most expensive cities on the continent took a leap forward in late October when the city’s Planning and Housing Committee voted to approve a staff report that advanced the policy.