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- Thread starter simuls
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cc46
Active Member
Let my clarify my earlier comment.
If infill on existing lots <15 ft wide between lot lines then I think the following model has merit.
Ground level, street entrance, foyer, closets, rear entry from single car garage.
2nd level, rear dining, rear deck, center kitchen w/island, front living room,
3rd level, 2 bedrooms/offices at each end, bathroom and laundry central,
4th level, master front with balcony, walk-in closet central, master bath rear.
Probably building footprint of 30 to 36 ft front to back, plus 6ft at front and 16ft at back for the lot.
If infill on existing lots <15 ft wide between lot lines then I think the following model has merit.
Ground level, street entrance, foyer, closets, rear entry from single car garage.
2nd level, rear dining, rear deck, center kitchen w/island, front living room,
3rd level, 2 bedrooms/offices at each end, bathroom and laundry central,
4th level, master front with balcony, walk-in closet central, master bath rear.
Probably building footprint of 30 to 36 ft front to back, plus 6ft at front and 16ft at back for the lot.
Undead
Senior Member
From today's home page article: "the co-living asset class is modelled on furnished rental units where residents share common areas of units such as living rooms and kitchens"
I called it!
I called it!
afransen
Senior Member
Interesting to learn that over 1% of Canadians live in Hong Kong, and ~7% of HKers are Canadian.
dusk
Active Member
I've said this before and I'll say it again. People who were expecting a crash for the past 10 years have completely misread the room. Record low interest rates around the globe, restrictive zoning policies in major cities, along with demand that is either flat or rising means housing prices are going nowhere other than sideways or up.
I think the following changes will help alleviate housing prices.
Municipal - Broad and substantive changes to zoning. In particular, I'd like to see zoning rules relaxed for the entirety of Toronto outside of sensible heritage preservation, housing-as-of-right allowances across most of the city for pre-definied density levels (midrise, missing middle), and promotion of greater density in individual developments that include affordable housing (paid for by condo fees, etc).
Provincial - Continue to improve and speed up the approval process for new developments, create a policy that speeds up approval for developments that meet or exceed architectural design baselines.
Federal - Continue to play around with interest rates to slowly reduce the "free money" floating around in the system.
I genuinely expect some serious unrest in the coming years if none of this is addressed. There is a growing and louder segment of the population that have become disollusioned with policy to date. Let's get some changes going before we start electing some racist, narrow minded future populist leader.
I think the following changes will help alleviate housing prices.
Municipal - Broad and substantive changes to zoning. In particular, I'd like to see zoning rules relaxed for the entirety of Toronto outside of sensible heritage preservation, housing-as-of-right allowances across most of the city for pre-definied density levels (midrise, missing middle), and promotion of greater density in individual developments that include affordable housing (paid for by condo fees, etc).
Provincial - Continue to improve and speed up the approval process for new developments, create a policy that speeds up approval for developments that meet or exceed architectural design baselines.
Federal - Continue to play around with interest rates to slowly reduce the "free money" floating around in the system.
I genuinely expect some serious unrest in the coming years if none of this is addressed. There is a growing and louder segment of the population that have become disollusioned with policy to date. Let's get some changes going before we start electing some racist, narrow minded future populist leader.
Undead
Senior Member
Presented without comment:
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www.theglobeandmail.com
Condo developer plans to buy $1-billion worth of single-family houses in Canada for rentals
Toronto company is betting an investment concept that has already proven lucrative in the U.S. will also be successful north of the border
www.theglobeandmail.com
Paywall as an FYI
Midtown Urbanist
Superstar
This is a market that is thriving in the United States. It was not unlikely for some operators to copy the model here in Canada, though I am skeptical of the strategy if Canadian-based Tricon is unwilling to do it in Canada despite becoming leaders in the space in the United States.Presented without comment:
Condo developer plans to buy $1-billion worth of single-family houses in Canada for rentals
Toronto company is betting an investment concept that has already proven lucrative in the U.S. will also be successful north of the border
As for the narrative presented in the article, I don't feel the need to elaborate beyond what Tenblock's twitter handle articulated here:
evandyk
Senior Member
I tend to agree with Tenblock's view. We own a condo because at the time we bought it, it made the most financial sense. It would be great if we had a healthy rental market of modern apartments and houses with corporate landlords, as renting from a stable owner would be my preferred way of accessing housing.
But most of the apartment rental stock is old and lacks modern amenities, and you can pretty much only rent a house (or part of one) from an individual landowner - and I've been screwed by that type of arrangement before, where the landlord tried to kick us out to sell the place less than a year after we moved in.
So while these operators contribute to the demand for owning houses, they also reduce it, since people like me will happily get out of the ownership game and rent from them.
But most of the apartment rental stock is old and lacks modern amenities, and you can pretty much only rent a house (or part of one) from an individual landowner - and I've been screwed by that type of arrangement before, where the landlord tried to kick us out to sell the place less than a year after we moved in.
So while these operators contribute to the demand for owning houses, they also reduce it, since people like me will happily get out of the ownership game and rent from them.
Undead
Senior Member
Yup, but easy to get around if one is in the know
I completely disagree with that take. Judging by the way they toss out words like POC, indigenous and "problematic" it seems like they're just hopped up on critical studies theory that's pouring out of the universities. Pure conjecture.
A dev buying up condos to rent out would be celebrated--lol what? Did they miss the tide of hatred rolling around for condo investors who snap up units to rent out? These guys are just hitting back using virtue signal words against an article attacking their industry. Toxic and disingenuous. Admittedly, that lede could be worded better.
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evandyk
Senior Member
True. Though everyone is in their own individual situation, but if you're interested in understanding Toronto and being up to date on local developments, city council news, etc., a Toronto Star subscription is money very well spent.Yup, but easy to get around if one is in the know
Undead
Senior Member
That's me to a tee! And yet I continue to access whichever Star article I like without paying. If they really cared about their subscription model and revenues, they wouldn't have made it so easy to overcome the wall. Just my two cents.
evandyk
Senior Member
And I'm not going to moralize to anyone, because I'm part of the napster generation, and god knows I've pirated enough stuff over the course of my life, but the Toronto Star does need paying customers if it's going to continue to do local journalism long term.
You can be in the know, but choose not to use your knowledge.Yup, but easy to get around if one is in the know
Northern Light
Superstar
I will split the difference here, btw you and @Undead as I'm inclined to do.
I find Tenblock's take, in respect of building the additional unit to be right on-point; that does help increase supply, which is great.
However, I find the suggestion that racism is related to people's opinion of the idea, at best, a far reach, and at worse, a form of racism itself.
For one thing, it clearly implies that home ownership in the Toronto region is the exclusive prerogative of Caucasians........which is so patently absurd as to be offensive.
Addressed above.
Agree. The simply act of buying up existing supply does nothing to increase supply.
It simply shifts who benefits economically (CORE) in this case.
The actual, consistent, inclusion of second units, however, does increase supply and is laudable in that regard.
******
To sum up:
Is Core doing something terrible? No.
Are the 'second units' they are building a good thing? Yes.
Are some SFH owners (of all backgrounds) NIMBY when it comes to rental housing in their community? Yes
Is the developer acting selflessly to address the housing crisis? No. They are padding their bottom line. If it happens to help around the edges, that's great; but not the primary purpose.
If Core really wants to help the rental housing crisis, building new purpose-built rental would probably be a better choice.