City of Toronto orders Condo Developers to buy annual TTC Metropass for Every UnitCity of Toronto orders Condo Developers to buy annual TTC Metropass for every unit.
In an attempt to encourage transit use and reduce dependency on motor vehicles, the City of Toronto has passed an initiative requiring Developers building condos on Toronto transit lines to buy every unit an annual TTC Metropass in order to obtain condominium approval from the city. This will be applicable to condo projects with 20 or more units that “are or will be serviced by transit”. Councillor Howard Moscoe, pushed the initiative forward, which passed council without debate. The policy states the cost of the metropasses cannot be passed onto the condo buyer. Critics claim it will cost Developers $1400 per unit. “How does the city know that everyone is going to want or need a metropass?” said Stephen Dupuis, president and chief executive officer of Building Industry and Land Development Association (BILD).
Read the full article "City orders condo developers to buy annual metropass for every unit" in the National Post.
Thinking of Buying or Selling a Home or Condo in Brampton, Caledon, Mississauga, Oakville, Toronto, or Vaughan? Sara Kareer,
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Posted by Sara Kareer
on December 7, 2009
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