T.O. green lights $21 billion in new development

Wednesday, September 10, 2014

In a recent article, CBC News reported that Toronto City Council approved nearly 7,000 new condo units at the end of August. This brings the total number of condo units slated for construction in the city with the highest rate of development in the world to almost 77,000.

As some Torontonians expressed concerns about the side effects of such a boom, Jennifer Keesmaat, Toronto’s chief planner, acknowledged to CBC News that the city has grappled with the question of whether the city’s infrastructure can keep up with the current rate of development.

Toronto city councillor Joe Mihevc, however, remained optimistic.

“A lot of this development is good environmentally,” Mihevc told CBC News. “It’s putting people close to where they work. We’re seeing a lot more bicycle traffic, walking traffic. I think we will see plans that will address the infrastructure needs of this development.”

Toronto’s newly approved condo units represent $21 billion in new development.