New recommendations to allow laneway suites in areas adjacent to public laneways zoned for low-rise residential uses are being considered by the City of Toronto’s Planning and Housing Committee.
And the idea is backed by the Toronto Real Estate Board which says laneway suites can help improve affordability, boost homeownership, and help increase the supply of rental homes.
“Ensuring adequate, affordable, and appropriate housing supply is a priority for TREB and our Members. This is why TREB supported City Council’s actions, last year, which allowed for laneway suites in the Toronto and East York District, and why we are supporting the current recommended changes to expand this to the whole City,” said Michael Collins, TREB President.
Addressing supply issues
He added that inadequate housing supply is the biggest factor affecting affordability for homebuyers and renters in Toronto and the GTA and the laneway proposal is a step in the right direction to removing red tape which is hampering supply.
“Laneway suites help address numerous issues. As a form of mid-density low-rise housing, they help to fill the void of “missing middle” housing types. Furthermore, as an ancillary suite to a primary dwelling, they are likely to help provide additional rental housing supply and can help foster home ownership, at the same time, by providing additional income for the owner of the primary dwelling. They are a win-win scenario,” said Collins.
More market update: