A beloved doughnut shop in Kensington Market is facing a rent increase that will see rates almost double for the small business — and the local non-profit helping the store navigate the situation is criticizing the city for its actions.Posted: Jun 09, 2024 4:30 PM EDT | Last Updated: 2 hours ago
Owner Jiten Grover says when he recently had to renew the business's lease with the city, he learned that the price would jump from $46 per square foot to $80. Grover said even though Dipped Donuts is popular, that doesn't mean he can afford this kind of rent increase. These kinds of rent increases will drive small businesses out of areas like Kensington Market, and change the quality and character of the neighbourhood, he said.
"This is displacement on behalf of the city. Because what they're doing is they're saying we want market rent. We don't care who's there," he said.Coun. Dianne Saxe, who represents University-Rosedale, said Dipped Donuts is an important part of the Kensington Market community but that the city is in "great financial difficulty" and can't hand out a subsidy to one business versus others.
At the end of May, city council approved a motion to ask Ontario to implement rent control for small, locally owned businesses on provincial land.
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