After two years on hold, new rules for short term rentals have been approved in Toronto. The Local Planning Appeal Tribunal said in a ruling released Monday that it has dismissed an appeal by several residents who objected to the rules that put limits on how people can rent out their properties. The city put the rules in place in part over concerns that short-term rentals like Airbnb were reducing the rental stock as the city deals with a housing crisis. In Toronto, it’s estimated that there are 21,000 Air BNB listings. They produce $214 million a year in short-term rental revenue and Toronto is Canada's largest market.

Under the new zoning bylaw amendments, short-term rentals will only be allowed in principal residences, which means landlords will…

721 Views, 0 Comments

Read Full Post

 

Since 2013, 28 Acres of prime Etobcioke property, only steps to Lake Ontario, has been sitting vacant. The site of the former Mr. Christie factory that made one of the world’s favourite cookies for more than 60 years has moved from what might eventually become one of Toronto's top destinations. In mid-2019, City Council and the Local Planning Appeal Tribunal (LPAT) approved the conversion of the majority of the site at 2150 Lake Shore Blvd W. to a Regeneration Area, allowing for a mix of uses such as residential and retail, as well as land for employment uses. A Secondary Plan process has begun, and will be led by the City of Toronto. Over the last several years, Humber Bay (Park Lawn Lakeshore) has become one of Toronto’s fastest growing…

579 Views, 0 Comments

Read Full Post