This bill was recently passed in Ontario. The purpose is to begin to address the severe housing crisis that Ontario is facing, especially given the hundreds of thousands of immigrants we plan to welcome in the next 5 years.
What does this mean for investors? Opportunity!
One of the many aspects of the bill is the ability to put 3 units on properties zoned R1 (and in some select areas, 4 units). This can either be done by adding 2 more units to the existing building OR 1 more unit in the existing building plus a garden suite. The province is handing you the ability to develop lower density residential lots on a silver platter.
For us, we plan to take two single family homes and create a total of 5 units! More units = more value = more cash flow = happier us and happier investors.
If you want to chat more about our plans with this new bill book a Discovery Call
There are MANY other aspects to this bill so we recommend you check it. Click the link below for more details from OLA
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