Comment 118084

By GWW (registered) | Posted May 01, 2016 at 20:26:48 in reply to Comment 117973

If the housing area is built by a developer, it will all be affordable to their target market. However if you are taking about social housing, or subsidized units, the City needs to be explicit and upfront what their expectations are as to number of units, size of units, and the nature of subsidy. Regent Park may work in Toronto, but look at the market rate in the area in general, and more specifically what condos that aren't subsidized go for in Regent Park (You can find listings for units with less than 400 square feet where they are listed for $259,000) The economics aren't as great here, in Hamilton but the implicitly subsidy will be reflected in the ultimate price a developer is willing to pay, or the non-subsidized condo owners will need to pay, either in the unit costs, or their ongoing condo fees.

PS The storey must have the incorrect area, it is probably closer to 110,000 square metres, otherwise these units are really small!

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