OCP's aren't a super popular topic for discussion, but I found this interesting. A reply from City Plumber (whoever that is), with regards to the social housing requirements for the DTES Oppenheimer area.
Quote:
A developer can still build 1 FSR of for-sale condos in the new project. (For those just joining the urban-planning world, 1 FSR means you can build a building to the equivalent of the square footage of the lot. So if a lot is 33 x 100, the building can be 3300 square feet, in whatever form you want. One floor of 3,300, two floors of 1,650, three floors of 1,100, etc.) The remainder has to be rental. Sixty per cent of that rental has to be “social housing,” which means, in essence, that it’s below-market in some way. The city’s formula is that a third of that should be deep subsidy (so essentially rented out at welfare rates), a third at shallow subsidy (so rent at 30 per cent of the person’s income, for those who are low-income but not on welfare), and a third at prevailing market rates in the area for all apartments (so you can’t charge the normal rent that you’d get for a new unit.) That’s a super-shallow subsidy, but does encourage people of a different income group to mix in.
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Hypothetically speaking (if this information is correct), a new development at 2 FSR (20 000 sq ft lot) of say, 40 000 sq ft, would have 20 000 sq ft of market rate condos, 8000 sq ft of market rate rentals and the remaining 12 000 sq ft subsidized. Of those subsidized units, 4 000 sq ft would be welfare rate.
If we assign each unit 1000 sq ft, we get 36 units occupied by working folk, and 4 units occupied by welfare recipients. Micheal Geller and a few others made it sound as if the city was demanding 60% welfare rate. This scheme with 10% welfare rate doesn't look so bad.