Our latest Residential Report from _RESCON president Richard Lyall looks at how to solve Ontario’s housing supply crisis.
However, it can be done if all levels of government and the residential construction industry stakeholders are rowing in the same direction.To build the housing that’s needed, we need to cut red tape and dramatically speed-up the development approvals process, bring in more immigrants with construction skills, and embrace technology.
The City of Toronto, for example, was ranked 18th worst on a list of 21 communities across the country, followed by Pickering in 19th spot, Bradford West Gwillimbury at 20th and Markham in 21st. For approval timelines, Toronto was 20th on the list, and for government charges it was in last place. A new development and growth division being set up at the city should also help as the premise is to streamline the approvals process and fundamentally change how development applications are handled. Regulatory processes are presently denying many builders the opportunity to build homes.
Based on current forecasts, more than 42,000 construction workers, or nearly one quarter of the current labour force, is set to retire in the GTA alone by 2030. Thousands of additional workers will need to be hired and trained to replace the retiring workers.
Unfortunately, Canada is lagging when it comes to such innovation. We rank 34 out of 35 Organization for Economic Co-operation and Development countries in the length of time it takes to secure approval for a general construction project. The World Bank has ranked Canada 64th out of 190 countries in construction permitting. We also have the lowest housing supply amongst all G7 countries.
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