In this blog post, we will delve into the housing platform of Olivia Chow, the newly elected mayor of Toronto. Chow’s focus on addressing the housing crisis and ensuring the welfare of renters and tenants has garnered attention and support. By examining her proposed policies and initiatives, we will gain insight into her vision for creating affordable housing options, enhancing tenant safety, and improving the overall housing landscape in the city.

One of Chow’s primary objectives is to tackle the issue of vacant homes in Toronto. She aims to raise the vacant home tax from one percent to three percent. Although the number of vacant homes in the city may be relatively low, the increase in the tax serves as an incentive for homeowners to keep their properties occupied. By discouraging property vacancy, Chow hopes to contribute to a more balanced and sustainable housing situation in Toronto.

To address the growing inequality in the housing market, Chow proposes increasing the land transfer tax for homes valued at over $3 million. The tax would rise by one percent for homes within that range and by an additional percent for every subsequent bracket. This initiative, often referred to as a luxury tax, targets a small fraction of homes, approximately two percent. 

Chow’s platform also emphasizes the importance of tenant safety and well-being. She plans to invest more into RentSafe TO, which will involve regular inspections of rental properties to ensure they meet the required safety and building codes. This initiative aims to protect tenants from hazardous living conditions and substandard housing. Additionally, Chow envisions establishing a dedicated committee within City Hall to represent tenant interests and advocate for their rights. This committee would serve as a platform for tenants to voice their concerns, providing them with a stronger presence in shaping housing policies and regulations.

Recognizing the escalating cost of living in Toronto, Chow’s plan includes the construction of 25,000 rent-controlled units. A portion of these units would be designated for low-income individuals, guaranteeing affordable rental options for those facing financial challenges. 

Olivia Chow’s housing platform offers a comprehensive set of policies and initiatives to tackle the housing crisis in Toronto. As her mayoral reign unfolds, it will be interesting to see how these proposals translate into tangible actions, ultimately shaping the future of housing in the city.