SUSTAINABLE HOUSING ASSET RESOURCE EXCHANGE

Exploring the Establishment of a Housing Development Corporation – City of London

Exploring the Establishment of a Housing Development Corporation – City of London

The City of London’s interest in housing development is based on the findings of studies such as the FCM report, “The Housing Market and Canada’s Economic Recovery” (Jan. 2012), which concluded that housing development is the activity with the highest multiplier effect and impact on GDP recovery, especially when fiscal measures are directed to lower-income households, where any assistance typically results in immediate consumption, rather than savings. Housing development can also help achieve important social, community development and environmental goals. While these benefits are critical to the well-being of the community, the City currently has little direct control over housing development activity, other than through its traditional roles in regulating land use, administering housing programs and other such long-standing municipal functions.

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