With more cranes than any other city in North America, Toronto has remained the continent's undisputed construction capital for years. And thanks t...
And thanks to an absolutely mind-melting number of new homes proposed or approved across Toronto , the city could hold this distinction long into the future if market conditions cooperate.
The City of Toronto's Planning Division shared its latest Development Pipeline Bulletin, and the numbers are pretty darn impressive. In addition to the over 100,000 residential units constructed from 2019 to 2023, the City currently has 258,397 units approved and awaiting construction, and an additional 436,421 proposed and under review.When divided by Toronto's July 2022 population of 3,025,647, that figure of almost 700k units is enough to supply 22 per cent of the city residents with their own home
And that figure doesn't even include the 106,000 homes constructed in the four years leading up to this point.Toronto is among the cities that the province awarded payouts to earlier this year for exceeding its 2023 housing targets. The Ontario government paid $114 million to the City in February after Toronto exceeded its housing targets by 51 per cent.
Despite the current figures, Toronto is still lagging behind compared to the City's 2022 Development Pipeline, which noted 717,327 residential units within projects with development activity between January 1, 2017 and June 30, 2022.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Futuristic tower to replace luxury car dealerships north of TorontoA new application to redevelop a pair of luxury auto dealerships in Thornhill would bring a futuristic tiered tower to the site of 8790 Yonge Stree...
Read more »
Toronto officer charged with assault in 2020 North York arrestOntario’s Special Investigations Unit (SIU) has charged a Toronto police officer in connection with an arrest in North York nearly four years ago.
Read more »
WATCH: Toronto police release video of suspect vehicle after North York Jewish school hit with gunfireToronto police have released new surveillance video as they search for two suspects who opened fire on a Jewish girls' school over the weekend.
Read more »
Tornado warnings briefly issued north of Toronto amid thunderstorm watches in OntarioTornado warnings were briefly issued for a number of areas north of the Greater Toronto Area (GTA) Wednesday as a band of severe thunderstorms moved east through Ontario.
Read more »
Toronto man charged with impaired driving in 3-vehicle crash north of the cityA 35-year-old man from Toronto has been charged with dangerous and impaired driving following a three-vehicle collision Sunday night in Vaughan, Ont.
Read more »
Toronto police investigating second vandalism incident at north-end synagogueThe Toronto police hate crimes unit is investigating after a local synagogue was vandalized for the second time in four weeks.
Read more »