Whitby Council has declared that the town is facing a housing affordability crisis, while calling on provincial and federal governments to support housing-related electricity infrastructure in Whitby.
“Whitby is facing a housing affordability crisis and that housing construction has largely stalled due to the absence of housing-related infrastructure, most particularly electricity and the related infrastructure required to convey it where needed for housing, further exacerbating the housing affordability crisis,” said a council motion.
Whitby Council has formally requested the provincial and federal governments to provide financial and policy support for housing-related electricity infrastructure in Whitby — particularly in Brooklin and northwest Whitby.
The Town of Whitby, along with three of the four other shareholders of Elexicon Energy, have agreed to a suspension of all dividend payments on shares in Elexicon until at least 2032, and invested some $62 million in new equity through the conversion of debt instruments to new shares.
Despite these efforts, the motion notes the Town of Whitby, Elexicon Energy, and the development community require investment from senior levels of government to unlock housing development in Brooklin and northwest Whitby.
Housing has stalled everywhere. We are back to the late 80s and 90s where housing is effectively in decline as we enter recession. It’s time for all municipalities to stop wasting tax dollars expecting the gravy train of new homes and appreciation to bail them out.
Pretty sure we’re not talking about building more affordable rental buildings here.
If affordable housing meant affordable for people who make less than $45,000 a year, there wouldn’t be a housing crisis.