06-01-2021, 04:59 PM
(06-01-2021, 01:29 PM)tomh009 Wrote:The old Mayfair Hotel building obviously housed affordable units but that was vacant since 2007 or 2008 so those weren't lost due to the arrival of the LRT.(06-01-2021, 10:28 AM)Bytor Wrote: After condos started getting built, yes, that complaint has been made. And for good reason, too.
Very few affordable units have been actually lost to the new construction: most of it has been either empty land or commercial properties. None of these actually lost units, for example: City Centre, 1 Victoria, 100 Victoria, Garment St, Arrow 2, Drewlo, The Scott, Civic 66 match this. Market Flats replaces a handful of low-cost housing units but most others really do not. (The 19-31 Mill St project will lose a number of units, though -- and the Victoria Park Neighbourhood Association pushed the developer to change the construction plans, and now there will not be any affordable units.)
The bigger factor, I think, is that many property owners are renovating their properties, and this typically results in substantial rent increases. This would happen without the LRT, too, but likely less often.