The Laneway Project finally arrives in Toronto. Last week, the municipal government gave the green light to the project, and although the use of the alleys will do little to solve the shortage of supply, it presents owners and investors with a profitable opportunity. Denis Klapiric, a sales representative for Property.ca Realty Inc., says condominium rates, which average $ 0.50 per square foot in the city, swallow the profits of investors, but there will be no such annoyance with the properties of Laneway. The maintenance of freehold properties would be taken care of by the tenant, and it is a much more affordable way to enter the market from an investment perspective, he said. If you're looking to expand your portfolio, it's a great opportunity. In addition, with the low availability of Toronto units, the rental demand for such units would be fleeting. There is a great demand and it is guaranteed that it will be possible to lease whatever it takes to the market, Klapiric said. With such a limited supply of rental properties in the city, it's a great focus for investors and the city itself. Klapiric warned that, unlike condominiums, maintenance work will be the responsibility of the owner, but the advantage is that they would have more flexibility with what they could do because, in condominiums, they have to comply with the rules and regulations of the condominium. meeting. The avocadoes to the issue of housing in Toronto have pressed for a long time so that the city government will sanction the cheap housing, but until June 6 that desire was not fulfilled. Richard Lyall, president of the Residential Construction Council of Ontario, says it's because the bureaucracy is unrestrained in the city's municipal policy. We have outdated zoning processes and approval of blueprints, which defy logic. There is no reason why a site plan should not take more than a month at most, but continue for a year or two. industry with the supply of something, what industries usually do is look at their supply chains and ask, 'what's going on here?' said Lyall. However, Lyall praised the municipal government's decision to allow the construction of independent housing, if only because he is finally proactive in something. In addition, he believes that it will give smaller investors a chance. You buy a property and build something on the back and create opportunities for smaller investors, which is also beautiful because the larger investors will not want to mess with them, he said. It also creates opportunities for smaller architectural firms." We hope that such development is in favor of the growth of the city of Toronto and that it does not mean a problem for its residents. Do you want to know more information? Visit http://thelanewayproject.ca/ and if you have any questions or comments, write it down below!