|
Thank you for the correction, and I am embarrassed by the brain fart / fingers typing on their own incident there. When I saw the news, it did register as a $1B+ dollar figure in my head.
When it comes to housing, esp public housing, though, I am not really sure whether $1B+ is enough. It is of course still a tremendous amount of money. But how many units of housing can that generate?
Some quick Googling seems to suggest that the average 1-bedroom condo price is ~$500k, and 2-bedroom units are ~$600k. Obviously, these are going to be very different from community housing units, but community housing units would have their additional costs or cost reductions associated with it as well. For the sake of argument, let's say each unit can be built for $400k. When you crunch the math, that's only 2500 units. Toronto has a 2.7M+ population.
|