Jan. 28, 2004 - Home builders challenge province, selves

January 17, 2005

January 28, 2004

Home builders challenge province, selves

Toronto– Toronto–area home builders are warning the provincial government that ill-conceived changes to land development laws could drive up housing prices, put people out of work, and significantly stem the flow of tax revenue Queen’s Park needs to fulfill its mandate.

In a speech this evening to more than 400 of the association’s 1,161 member companies, Mark Parsons, the president of the Greater Toronto Home Builders’ Association, will alert the provincial government that it is sailing into turbulent waters.

If Premier Dalton McGuinty and Municipal Affairs Minister John Gerretsen don’t consult widely before instituting changes, “they could capsize the one industry that has sustained the provincial economy in recent years,” Parsons says.

New home construction directly and indirectly creates about 125,000 jobs annually in the GTA and contributes billions a year to the economy through taxes, permit fees and development charges.

While acknowledging the Liberal election mandate for change and a growing public unease with urban sprawl, Parsons will call for wide consultation and careful legislative changes so as not to derail an economic powerhouse.

“We know that the GTA is expected to grow by 2.4 million over the next 30 years but the supply of land designated for development today is sufficient to accommodate anticipated growth for only about the next 15 years. The consequences of failing to plan for this growth include rising prices, people being shut out of the market, lost jobs, and social disruption as newcomers arrive with no place to live,” says Parsons.

Note to editors: Copies of Mark Parson’s speech are available by clicking here.

For further information, contact:

Suzanna Cohen
Director of Communications
Stephen Dupuis
Executive Vice President