Review of Low-End Market Rental Contribution Rates

Industry Engagement To Review LEMR Contribution Rates As part of the City’s preparation for Bill 16 implementation, staff engaged members of the development community and non-profit housing operators to better understand the factors influencing the overall viability of building and maintaining Low-End Market Rental (LEMR) housing. Based on engagement to date, and the findings of cursory financial feasibility analyses, it is recommended that LEMR contribution rates and other program settings, including the threshold for requiring LEMR homes, the depth of housing affordability, requirements pertaining to ownership, and other factors, be reviewed. Subject to Council’s direction, this work will be implemented in advance of the creation of a new Affordable Housing Strategy (2027–2037). The LEMR program review will include targeted engagement with the development community, including members of the Urban Development Institute, non-profit housing operators, and housing advocates, the latter groups being participants in the City’s Non-Profit Partnership Program. A key objective of this review will be to retain a built LEMR contribution while ensuring that housing projects remain financially viable. Further financial feasibility analyses will explore how municipal requirements, costs, and charges may be adjusted to realize overall project viability under current market conditions. Staff will report back to Council with options that balance development viability with the City’s ongoing objectives of delivering housing across the housing continuum.

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