| I've been looking at the market prices of apartments in the close downtown area, and I realise the marvellous position we're in. A far west as Dufferin and east to Donlands, the apartments advertised on TorontoRentals.com are never cheaper than and as much as twice as expensive as the same nominal size in the co-op. I say nominal size because no-one ever accused a commercial landlord of having oversized rooms. I saw: | ||
| Palmerston and College | 2 bed | $1850 |
| Danforth and Donlands | 1 bed | $950 |
| Richmond and Sherbourn | 1 bed | $1350 |
| Dufferin and Dupont | bachelor | $550 |
| Yonge and Bay | 1 bed | $1350 |
| Bloor and Spadina | bachelor | $859 |
| Bloor and Brunswick | 1 bedroom | $999 |
| Richmond and Sherbourne | 1 bed | $1300 |
| Jarvis and King | 1 bed + den | $1750 |
CMHC says that a full market-value 2-bedroom apartment in downtown Toronto should be expected to cost $1500.
They define affordable housing as being 80% of this, or $1200.
So if the other prices are in the same ratio, we are paying three quarters of the price of affordable housing.
