The government’s inaction to provide affordable housing in Canada is “unacceptable”, Toronto Mayor John Tory said on Monday.
Tory spoke to the media at an unused plot of land in downtown Toronto to symbolise his sentiment that there’s been a lack of action on affordable housing.
A decade ago, the city-owned Madison Avenue lot was assigned to give space to an affordable housing development but nothing has materialized, CBC reported.
"Here it sits, 10 years later, still vacant," said Tory. "Unacceptable."
On the site, Tory announced the “Open Door” initiative, where he wants the city to free up land and fast track developers to create affordable housing. He said of the city's 2020 targets for affordable housing, it still needs 6,810 rental and 734 ownership homes.
"The Open Door initiative will change the way the city does business with developers," he was quoted as saying by CBC.
"We should be opening doors for those who want to be building affordable housing.”
The mayor would also solicit land from the provincial and federal governments for new developments.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: