Addressing Ontario’s Housing Affordability Crisis Requires All Hands On Deck

(TORONTO – July 5, 2023) – Housing affordability has become a pressing issue impacting communities of all sizes across Ontario. High housing costs are limiting the buying power of households, impacting businesses’ ability to attract and retain talent, and exacerbating homelessness rates throughout the province. The Government of Ontario has committed to building 1.5 million new homes by 2031 to help mitigate this crisis, a goal that will require strategic action and significant collaboration across sectors and all levels of government.

Today, the Ontario Chamber of Commerce (OCC) released, Home Stretched: Tackling Ontario’s Housing Affordability Crisis Through Innovative Solutions and Partnerships, outlining opportunities for the private, public, and non-profit sectors to explore innovative partnerships and approaches to address housing affordability and supply, and recommendations to build on successful models.

“The growing mismatch between housing supply and demand in communities across Ontario has made it more difficult for employers to fill labour gaps, particularly as the global competition for talent heats up,” said Rocco Rossi, President and CEO, OCC. “To ensure the long-term resilience of our economy, we encourage governments to balance consultation with bold action, such as ending exclusionary zoning and working in partnership with public and private sector partners to address labour shortages.”

The policy brief provides all levels of government and industry with recommendations under the following themes: Labour and Demographics, the Housing Continuum, and Infrastructure and Land Use Planning.

Key recommendations include:

• Continue to establish and deliver on inclusive workforce development and immigration strategies to increase the labour pool needed to build more housing.
• Incentivize the development and preservation of affordable housing options along the continuum, including purpose-built rentals, missing middle, student, non-profit, cooperative, and supportive housing.
• Support the development and expansion of innovative technologies, data tools, retrofitting, building conversions, as well as mixed-use and climate-resilient green housing.

To help inform this brief, the OCC led a series of regional housing affordability roundtables with a diverse range of housing sector stakeholders. We extend our gratitude to all roundtable participants for their valuable feedback and to the entire Ontario Chamber Network for their ongoing support and engagement.

Special thanks to our Lead Partner, Desjardins, and Presenting Partners, Cadillac Fairview, and the Federation of Rental-housing Providers of Ontario, for their vital collaboration.

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About the Ontario Chamber of Commerce
The Ontario Chamber of Commerce (OCC) is the indispensable partner of business and Canada’s largest, most influential provincial chamber. It is an independent, not-for-profit advocacy and member services organization representing a diverse network of 60,000 members. The OCC’s mission is to convene, align and advance the interests of its members through principled policy work, value-added business services and broad engagement to drive competitiveness and economic growth in the province.

For more information, please contact:
Samir Janmohamed
Policy and Public Affairs, Specialist
samirjanmohamed@occ.ca | 647-882-9878

Quotes

“Addressing the housing affordability crisis must be a priority and we must find ways to increase supply. At Desjardins, we believe that every person, every family, has the right to affordable housing. The recommendations outlined in this report offer practical solutions that can have a positive impact for Ontarians and the economy. We are proud to partner with the OCC on this initiative and thank the many stakeholders who were involved,” Guy Cormier, President and CEO, Desjardins Group.

“The OCC has challenged itself with addressing one of the key issues faced in Ontario today and has produced a brief that is balanced in its approach and makes actionable recommendations. Cadillac Fairview is proud to support this initiative and take part in the discussion alongside the many accomplished contributors that provided input for the policy brief,” said James Deitcher, Vice President, Development, Cadillac Fairview.

“The housing crisis is a threat to the economic stability and growth of the province. To achieve the goal of 1.5 million new homes in the next ten years, we need a comprehensive approach that will work for all Ontarians. We need more housing options, including more purpose-built rental housing, a more streamlined process for building them, and more skilled trades workers to build them. We need to keep working together with all stakeholders and levels of government to ensure we are successful,” stated Tony Irwin, President and CEO, Federation of Rental Housing Providers of Ontario.