Both new and existing housing investments will deliver most economic value, new model suggests
Simultaneously investing in new public housing construction and renewal and repairs of existing buildings could bring $102 billion in economic and social value to the Greater Toronto and Hamilton Area (GTHA).
Research published by the GTHA Community Housing Collaborative and the Canadian Centre for Economic Analysis shows a 2.8:1 benefit-cost ratio (BCR) for an investment pathway that focuses on both new and existing buildings.
While this ratio is much higher than the projected BCR for investing only in repairs and renewals, it is only marginally higher than the expected BCR for investing only in new construction of public housing.
The modelling also shows significant non-monetary impacts of dual investment in existing and new buildings, including fewer hospital visits and less justice utilization.
This research is particularly relevant for the GTHA, where homelessness continues to climb, and where there are risks to existing housing stock. Build Canada Homes, a new federal agency, will facilitate the development of affordable housing on public land and prioritize non-market housing.
Your job. Your mission. Your news.
With your support, the sector you're building gets the journalism it deserves, and you get a tax receipt.
Author
