Has North America been getting housing development all wrong?
Montreal believes so as it prepares to table a new bylaw to tackle affordability that has not been used in North America before.
The plan is that every new condo development will be required to provide a share of off-market units.
Councillor Robert Beaudry is confident that the plan will be a success and forge a new path through North America.
“It was fundamental for us to be pioneers ... We will deliver and I am convinced it will inspire other big cities across the country,” the economic and development councillor told the HuffPost Canada.
The full details of how the scheme would work are yet to be finalized but Montreal’s mayor Valerie Plante had previously set out a vision for 20% of units to be government-subsidized social housing, 20% would be affordable with the city helping buyers with their don payment, and 20% family units.
The social housing could be built in nearby land rather than as part of the main development.
Critics of the Mayor’s so-called 20-20-20 plan say that it would make development unviable and talks with developers have been ongoing some many months.
