08-21-2023, 10:19 PM
(08-21-2023, 09:37 PM)nms Wrote: What are the chances that Kitchener (and Waterloo and Cambridge too), might follow Toronto's lead and require that lost units be replaced on site at the same rental rate? That might ease some of the concerns long-term.
I thought that was Ontario law? Skimming now though, I don't see anything about keeping the rental rate, so that is a problem.
Regardless, it's an almost meaningless concession for developers. Next to 0 existing tenants can find a "temporary" place for the 1-3 years it takes for the lot to be redeveloped, and then pack up their new life to move back. Unless you mean Toronto requires the same number of units at the previous rate to be provided regardless of returning tenants (i.e. not related to right of first refusal)?