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www.cp24.com
I don't think this decision made sense (he praises triplex hard but says fourplex is a disaster and hard no) but how exactly is limiting density sucking up to developers?'It's off the table': Doug Ford nixes fourplexes as part of next Ontario housing bill
Ontario Premier Doug Ford has ruled out allowing municipalities to build fourplexes, despite it being one of the province’s housing affordability task force recommendations and a mandatory factor federal infrastructure funding.
This guy is a train wreck.
What? The developer will build whatever they can to maximize profits. If three was more profitable than four (which I doubt), allowing four would change nothing and they would build three. If four was more profitable than three, allowing four may be considering sucking up. I guess conceivably, preventing four limits the ability of a normal homeowner to redevelop their dwelling and come out far ahead which limits small scale housing creation and pushes people to developments underwritten by major developers but seeing how few three-plexes are coming out, I don't think allowing four-plexes would change supply substantially. Every little bit helps supply but it wouldn't open the floodgates and change prices much.
Which I believe would be single family homes. Every step away from that would be a decrease in profits so 3 is likely better for them than four. Also after the green belt fiasco it's hard not to view him with a jaundiced eye.
Umm wouldn't a building (of some sort) which has way more units and you can build up net you more money, then say a few homes on the same piece of land. Just a guess.
Bingo. Normally more units equals more gross revenue. More expenses as well though so the difference in net may not always be worth the effort. In general, the more units allowed, the more likely multi-unit wins economically. There are now developers in Toronto that buy one decrepit detached dwelling for <2M, bulldoze and build a triplex at ~1200 ft each and sell units for ~1.2-1.3. Not much room for profit on a triplex but a ton if you build a fourplex as incremental costs are very low compared to sales price.
How do you fit four singles on one lot? The problem is ultimately limited land available. Four singles needs at least 120' of frontage (and probably more). A fourplex can fit on a single 30' lot (assuming you don't need parking for four cars, vehicles really throw a wrench into the program).
don’t want a 2/3/4 or more plex next door to me. Regardless of how much it helps others.
I don't get it. If you have 120' of frontage, do you think you could sell four detached on 30' lots for more than 16 dwellings? If so, I strongly disagree.
How so? A four plex needs what…8 spots max? Dig 12 feet deeper and you have an underground parking lot and add 50-100k/spot as profit.
Triplex/fourplex on a narrow lot normally has one unit partially underground so walkup to top unit isn't quite as many stairs (and building doesn't look so huge from the street. If you have a wide lot, you have more freedom. Building a ramp down (or lift), access lane with room to turn and parking eats up a ton of land and is not feasible on most smallish lots.
It usually ends up with more on-street parking, which the NIMBYs don't like.
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