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Ontario  + Canada + Cross Border News  + Multi-residential Housing  | 
Ontario's new housing minister has apologized to developers for the province's handling of scrapped Greenbelt development.

Ontario Won’t Compensate Greenbelt Developers

The Ontario government will not compensate multi-residential property developers who own land being returned to the Greenbelt.

Paul Calandra, the province’s new housing minister, told the Canadian Press on Wednesday that he has drafted legislation that will “codify” the Greenbelt, a protected surrounding the Greater Toronto. That means developers will not be compensated under the forthcoming law.

Ontario Premier Doug Ford backtracked last week and unexpectedly stopped all Greenbelt development. The government removed 3,000 acres of land from the Greenbelt in 2022, insisting that the land was urgently needed to boost housing supply.

Ford’s reversal came after Kaleed Rasheed resigned as minister of public and service delivery resigned in relation to Integrity Commissioner David Wake’s investigation into the Greenbelt land removal. Rasheed became the second cabinet minister to resign over the Greenbelt land removal. Former housing minister Steve Clark resigned and was replaced by Calandra.

Wake found that Clark breached ethics rules and failed to oversee the land-removal process.

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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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