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Toronto's affordable housing crisis is costing the city billions per year


Toronto s affordable housing crisis is costing the city billions per year
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Though the city s ongoing affordable housing crisis has an obvious impact on those who want to live here, a new report has quantified the cost to the city itself, both directly and indirectly through loss of talent, stunted growth in various sectors, and labour supply constraints.
Commissioned by the Toronto Region Board of Trade and WoodGreen Community Services, a study by Prism Economics and Analysis concluded that affordable housing shortages in the GTA cost employers and the economy overall somewhere between a staggering $5.88 billion and $7.98 billion per year. ....

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Labour-management construction alliance welcomes municipal funding commitment


Labour-management construction alliance welcomes municipal funding commitment
Labour-management construction alliance welcomes municipal funding commitment
Vaughan, Ontario, Dec. 16, 2020 The Residential and Civil Construction Alliance of Ontario (RCCAO) is delighted that the Government of Ontario, in partnership with the Government of Canada, has provided financial relief to municipalities across the province, including the City of Toronto, to help them deal with budget shortfalls caused by COVID-19.
“This funding comes at a critical time for municipalities across Ontario and we commend the leadership and co-operation shown by both the provincial and federal governments in working together to address this unprecedented economic crisis,” says RCCAO board chair Peter Smith. “As a result of this funding, municipalities can now begin putting their financial houses in order.” ....

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