05-26-2020, 05:48 PM
Artificial scarcity (zoning and NIMBYs) plays a part, for sure. But non-artificial scarcity (next to Victoria Park and a short walk to many employers, restaurants and bars) is another factor why this particular property is so valuable.
In this particular case, if the region is looking at building an affordable-focused/affordable-only building (similar to what Kitchener Housing provides) there are certainly less expensive properties available that don't require car ownership. The east end has plenty of (less expensive) land ready for redevelopment, next to the LRT, not far from the IHT and a 15-20 minute walk from DTK.
In this particular case, if the region is looking at building an affordable-focused/affordable-only building (similar to what Kitchener Housing provides) there are certainly less expensive properties available that don't require car ownership. The east end has plenty of (less expensive) land ready for redevelopment, next to the LRT, not far from the IHT and a 15-20 minute walk from DTK.