Industry Pros Weigh in on New More Homes Built Faster Act

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Ontario's real estate industry is celebrating the More Homes Built Faster Act. Here's what the pros have to say about it. fordnation | realestate housing ONpoli realestatenews

sweeping new housing legislation

“I’m pleased that we’re seeing the change,” said Dave Wilkes, President and CEO of the Building Industry and Land Development Association. “This really is a generational bill to address a generational challenge, and I’m very encouraged that this will create a different framework, a different culture, a different approach.”

“This is one of the positive pieces of the legislation,” Goodchild said. “We support measures that encourage gentle density to create a greater array of rental housing. However, these new units would not be protected by rent control, and rents are unaffordable for many people already.”In what appears to be a trickle-down approach, the Province has vowed to reduce costs to developers through lower fees.

The legislation also seeks to scrap third-party appeals to the OLT, meaning those not directly involved in the development, including residents or environmental groups, couldn’t file a complaint. The move is meant to alleviate the OLT backlog and prevent developments from costly delays.

 

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