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Government’s Unused Land Could Improve the Affordable Housing Market!

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surplus 300x174 Governments Unused Land Could Improve the Affordable Housing Market!

Our govenrment owns 150,000 units worth of land in the city of Toronto.  Wow!  This land is turning into surplus land over time (aka, no one it has been offered to has a use for it and it’s being put out on the market for tender).

If any level of government (especially municipal or provincial) were to declare an interest in the sites, we could have proposal calls for non-profit delivery agencies for ownership housing.

Non-profits can produce 5000 units per year within the current marketplace. That’s 5,000 units of new development for the city.  5000 units creating jobs for the construction industry.  5,000 new homes for Torontonians.  Each of these 5,000 units also creates a residual value of approx. $20,000 above production costs that can be recovered to help foster lower-income ownership and make home ownership accessible to anyone with good financial literacy.

About the Author

Jessica Speziale is the Marketing Co-ordinator for Options for Homes Non-Profit Corporation. She write regularly for TheRedPin on cost-effective home ownership and is passionate about community and living green.
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  • Jessica_Speziale

    Thank you!