EBT
Active Member
When I look at a project like this that involves demolishing what has been an affordable rental property for many long-term residents who have been protected for decades by rent controls what provisions have been made to ensure these tenants will not be faced with unaffordable rents? What provisions have been made to ensure that they will be "left whole"?
I would bet that in a building like that there were tenants that have been in the building for 30 years or more. I have been in my building which is of the same vintage as this building for almost 30 years during which time thank God it was protected by rent controls because I would not be able to afford to live in my apartment or anywhere in Toronto.
Is the developer required to move existing tenants to a temporary apartment while guaranteeing their rent-controlled rents and paying for all moving expenses? When the new tower is built does the developer pay the expenses to move long term residents back into the rental replacement units and will the rent be at the old rent-controlled rent or will the rent be at a new "market level" which would be twice what they were paying in the old building?
I am all for building tall buildings but there are lots of development sites that don't require demolishing the few affordable rental units that we have left.
I would bet that in a building like that there were tenants that have been in the building for 30 years or more. I have been in my building which is of the same vintage as this building for almost 30 years during which time thank God it was protected by rent controls because I would not be able to afford to live in my apartment or anywhere in Toronto.
Is the developer required to move existing tenants to a temporary apartment while guaranteeing their rent-controlled rents and paying for all moving expenses? When the new tower is built does the developer pay the expenses to move long term residents back into the rental replacement units and will the rent be at the old rent-controlled rent or will the rent be at a new "market level" which would be twice what they were paying in the old building?
I am all for building tall buildings but there are lots of development sites that don't require demolishing the few affordable rental units that we have left.