“As the demand for retail and office space has changed due to COVID, some landlords, particularly in major urban cores, are facing higher vacancies,” the budget stated. “This is an opportunity for property owners and communities to explore converting excess space into rental housing, enhancing the livability and affordability of urban communities.”Article content
A hotel guest room, he said, already has a bathroom, living space and heating, ventilation and air conditioning unit, as well as fairly wide corridors and elevators, so all it really needs to be a functional home is a kitchenette.Photo by John Lappa/Sudbury Star/Postmedia Network files Office spaces do have an advantage in that their open-floor concepts can allow developers to create a variety of unit sizes, whereas hotels are restricted to existing room sizes unless major renovations are done.
Source: Real Estate Daily Report (realestatedailyreport.net)
Very short sighted, knee jerk reaction. Just what we need, the Federal government doing urban planning 😠
I get it now. Bankrupt small businesses to create low income housing!
It's a good idea. It's up to owners to investigate the options. Some people may like living in a refurbished space.
More supply would be helpful, but then the development appeal system will need to change
This government is spending taxpayer money unfettered. Everywhere & on anything but where it really has to. If they are not bettering, empowering & developing Canadians trust me on this ... we are headed for a major disaster. Handouts & aid won’t be enough. It’s doom! cdnpoli
A wonder how can a Trudeau Liberal government all ready inept and incompetent can get even more inept and incompetent!