Deciphering inclusionary zoning in Toronto

Altus Insights Podcast Series

Date: August 9, 2022

Name of podcast: Altus Insights Podcast Series

Episode title and number: Deciphering inclusionary zoning in Toronto

Episode summary: Ray and Marlon take on Toronto’s inclusionary zoning policy with John Galluzzo, Senior Director Altus Group’s land valuation practice. In this episode Ray, Marlon and John discuss inclusionary zoning’s impact in the short and mid-term, lessons that could be learned from other municipalities, and potential ways forward with inclusionary zoning that could help more than hinder future housing development.

Mentioned in this episode:

• City of Toronto's inclusionary zoning policy
• CMHC Report - Housing Shortages in Canada: Solving the Affordability Crisis
• Our podcast on Canada's housing affordability crisis

Panelists in this episode:

· John Galluzzo is a Senior Director at Altus Group and currently manages the Land Valuation Team based in the downtown Toronto office of the Altus Group Research, Valuation and Advisory (“RVA”) division providing real estate valuation services to developers, lawyers, financial institutions, accounting firms, pension funds, real estate divisions of national corporations, various levels of government, etc. John is an accredited appraiser and a land economist with over 25 years of experience and has presented at various industry events.

· Raymond Wong is the Vice President of Data Operations for Altus Group’s Data Solutions team. Overseeing 60+ researchers across Canada, Ray’s primary responsibility is to ensure data collection is all encompassing, reliable and accurate and that it adheres to the Altus Group data governance guidelines. Ray works closely with both internal and external clients to ensure the information meets their needs and that it is both accurate and timely. He also regularly presents on key market trends to clients and at industry events.

· Marlon Bray is the head of Altus Group's Ontario pre-construction and contract administration services as part of the Cost and Project Management team. With over 25 years of experience, specializing in budgeting, value optimization, and providing visibility on risk through the entire lifecycle from early due diligence through to completion. Marlon oversees a team that leads the way with cutting-edge estimating technology and data analytics, bringing a greater level of transparency, and added value to all projects he is involved with.

Key topics:

· 00:44 – What is inclusionary zoning per Toronto municipality

· 02:44 – Introduction to episode guest speaker: John Galluzzo

· 03:51 – Inclusionary zoning’s anticipated impact in Toronto and overall development market

· 06:06 – What’s causing a bigger impact than inclusionary zoning?

· 09:10 – Who gets the bill on affordable housing in Toronto?

· 12:42 – Is inclusionary zoning better implemented in other Canadian cities?

· 15:03 – Does inclusionary zoning make sense with purpose built rental?

· 16:52 – Is there a disconnect on inclusionary zoning between the Federal, Provincial and Municipal government?

· 18:55 – The effect of ramping up housing development have on land values?

· 21:48 – Potential approaches to better housing affordability

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