Affordable Housing in York Region

Are you looking for a reasonably priced house relative to your income? If yes, then you have reached the right place. Canada has a stable economy, high quality of life, diverse and inclusive society, and robust real estate market. Hence, it has become a desirable country to live in. Therefore, a lot of people are looking to invest in the Canadian real estate market.

York, Ontario (Canada) has also emerged as a lucrative option for investment. York offers a range of housing options to cater to different preferences and budgets. Let us look at some affordable housing in York and related options in this region.

Private Market Implementation Plan Affordable Housing in York

The York area is currently working on the development of an Affordable Private Market Housing Implementation Plan. This plan aims to  -

• Identify strategies
• Partnerships
• Advocacy efforts to tackle affordability challenges within the private residential market

You can know when the draft plan is ready.  For this, you should get involved with a variety of planning matters like house affordability.

According to their official website - “York Region will need your input to help inform a plan to be presented to York Regional Council in 2023.”

The Establishment of Housing Affordability Task Force

Let us understand the reasons that led to the formation of a Housing Affordability Task Force. For this, we must go back in February 2021. 

Feb 2021:

• Regional Council declares the crisis on affordable housing in York Region.
• The need to address affordability issues and initiate actionable change arises.
• They established a Housing Affordability Task Force for this purpose.

The Council strengthened building complete communities and started addressing the ongoing affordability challenges. It was considered as the only possible through partnerships, innovation and policy. York area provides a lot of affordable housing options. The following schemes were implemented for this as well:

• Affordable Private Market Housing Implementation Plan
• Community Housing Master Plan

Understanding the Affordable Housing Initiatives in York Region

York Region implemented certain Affordable Housing Initiatives. These subsidized housing provide economical housing for - 

• Individuals
• Families
• Seniors with low-to moderate-incomes. 

York Region regulates and funds subsidized housing. This is conducted in all nine cities and towns for eligible households. It is done for people who do not have enough income and/or assets to pay market rent.

York Region provides a slew of housing programs. They do it through the centralized subsidized housing wait list. The list includes: 

• Subsidized units at community housing locations
• Rent supplement units offered through participating private landlords
• Portable housing benefits to help applicants pay rent in their market rental unit

List of Private Market Affordable Housing Incentives

October 17, 2019 - In order to ease and facilitate the growth of the complete communities, York Regional Council approved the following development charge deferrals. This was done for affordable, purpose-built rental housing in York. They brought in the following schemes -

• Financial Incentives for Complete Communities
• Development Servicing and Financial  Incentives

A wastewater allocation reserve of four thousand persons was also created as part of the 2019 Water and Wastewater Assignment to Support Growth report. The reason behind this report was to assist purpose built rental housing initiatives, subject to capacity. In addition, incentives are available for sustainable, water efficient in York residential developments.

Financial Incentives for Complete Communities Guidelines

On October 17, 2019, the York area’s council passed new development charge deferrals. This was done to provide purpose-built, affordable rental houses and huge office buildings. These incentives support the growth of affordable housing in York and jobs for the region’s changing population and workforce. It aligns with the York area’s  city building initiatives. They also share the vision of creating a complete community.

Complete communities assist folks of all ages and abilities to live, work and play in their communities. They offer a wide span of housing types and affordable options. Their key objective is also to promote job growth and a diverse workforce for existing and new businesses. An essential element of building the complete community is to ensure that  there is a match between -

• Where workers live and 
• The place where they can find employment options within their community.

Financial and Servicing Incentives’ Development

York (Ontario) gives a wide range of servicing and financial incentives for development advocates who are obligated to build:

• Purpose-Built Rental, Affordable Housing   

It provides interest-free development charges. The deferments are issued to those houses that are eligible. The qualified proposals might be eligible for servicing grants from the area’s purpose-built rental home reserves.

• Large-Sized Office Buildings

York Region introduced this as a three-year-long pilot program. It offers development charge deferments for office buildings. It is issued to the ones that are being constructed in regional centres and corridors. The office buildings may be eligible for deferrals for the full amount of regional development charges. The charges are payable for up to 20 years.

• Water Efficient  and Sustainable Residential Developments

There are about two programs which provide citizens with servicing allocation incentives. These are given to the sustainably constructed and designed new residential developments:

1. Sustainable Development through LEED for high-rise development
2. Servicing Incentive Program for grade-related development