“If I were to build two identical buildings side by side within downtown Toronto, I would lose 17 percent of my gross floor space...or 17 additional percent, if I want to build a condo compared to if I want to build a fancy high-rise luxury apartment building.” – David Aizikov, Product Manager Data Services at Rentsync

As new legislation passed in favor of Inclusionary Zoning in Toronto, we called on David Aizikov, Product Manager Data Services at Rentsync and Max Steinman, Interim CEO at Rentsync to discuss the new policy that is taking effect in 2022. The policy indicates that all new purpose-built rental and condo developments within the city of Toronto, above 100 units, will have to include a percentage of their gross floor space for inclusionary zoned units, depending on where they are located in the city. The impact of this policy is tremendous. Everyone from developers to renters, to vendors and suppliers within the rental housing industry across the GTA have been left with a lot of unanswered questions and concerns. In this episode, we look at the policy from all angles, the good, the bad, and the unknown, and make recommendations for those looking towards the future of building in Toronto.

Key points from this episode:

• What this means for purpose-built rentals and condo developments moving forward
• How could the policy impact the type of product we see available on the market at those lower rates?
• How will properties ensure that renters are not taking advantage of the policy?
• What three distinct inclusionary zoning areas were identified and how they were determined
• How could this impact the cost of land in and outside of these areas 
• Why the policy makes purpose-built rentals more attractive versus condo developments 
• Recommendations to developers who have plans to build in the GTA in the foreseeable future
• The impact on marketing new developments located in inclusionary zoning areas

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Links mentioned in this episode:

Max Steinman on LinkedIn David Aizikov on LinkedIn Toronto Inclusionary Zoning Policy Rentsync