Effectiveness of density bonusing in securing affordable housing: a study of Toronto downtown and waterfront area
thesisposted on 25.05.2021, 07:14 by Nisha Shakya Singh
Today, Downtown and Central Waterfront area (the Area), through density bonusing/Section 37 agreements, has seen many condominium developments. In the situation of limited funding source available to municipalities, Toronto has used density bonusing as an effective incentive tool for securing the most needed community benefits from developers, in exchange for height/density beyond the prevailing by-laws. However, although the priority of density bonusing is to encourage/expand the growth of affordable housing in the City, due to some limitations to the tool, the extraction of affordable housing units from major condominium developments in the Area has been restricted. Based on literature review, a study of the City's data on projects approved for density bonusing in the Area, and a comparative study with Vancouver Downtown, this paper addresses several concerns about density bonusing. Finally, this paper puts forward a list of recommendations for the City to consider while dealing with the growing issues with the existing density bonusing policies for better inclusion of affordable housing in condominium developments in the Area.