I was just wondering if any other city is going through the pains of a booming highrise which lack affordable family units. When i say "affordable family units" i mean units that are over 3+ bedrooms and under $500k CAD.
In Toronto, there is a huge issue about the lack of these units and they are extremely rare. If you do find them they cost upwards of $900k, but most are over $1million. Local politicians have been trying to get the fight rolling for more family units. They reason for this is to make the newer areas available for everyone at all income levels and all ages, not just yuppies or empty-nesters.
When i look at units in Dubai, regardless of how expensive even the smaller units are, they seem to have a good ratio or balance between single, double and triple units in their development.
Is there a local by-law in your town which requires developers to keep such a ratio? Is your city going through the same strain as Toronto is?
What’s your take?