Report on purpose-built rentals in GTA paints dire picture on future housing conditions

The GTA faces a growing deficit of purpose-built rental units, projected to reach 235,000 over the next decade due to population growth outpacing supply. Despite recent government incentives like HST waivers and reduced development charges, rising construction costs and declining rents threaten future rental projects. Addressing this requires federal, provincial, and municipal efforts to lower development charges, adjust property taxes, and create favorable economic conditions for new rental housing.