(08-10-2022, 04:25 PM)panamaniac Wrote:(08-10-2022, 01:43 PM).jeffster Wrote: 1500 units is peanuts compared what is needed. I can't remember the exact number, but Kitchener is about 40,000+ units behind of what is needed. It would take 20 massive projects like this just to start to clear the backlog of what is needed.
Where did the 40,000+ number come from? That seems high even for Kitchener CMA, let alone Kitchener.
Right, should have explained, and I may have been on the low side:
https://www.cbc.ca/news/canada/toronto/h...-1.6498898
Canada needs 5.8 million homes by 2030 -- to make it possible for affordable housing.
Canada's official population as of 2021: 36,991,981
Region of Waterloo population as of 2021: 587,165
Percent of Canada that lives in Waterloo Region: 1.59%
Houses needed in Canada 5,800,000 - 1.59% of that is 92,220.
The 40,000 I got was from a real estate agent, but that was "the now" and not what we'd need in addition to 2030.
Either way, we need close to 12,000 units for the next 8 years to break even and 40,000 immediately.
So no matter how much proposals come in, there is little risk they'd site empty if the landlord is going to be reasonable for rent, like it was 20 years ago.