September 16, 2010
On Monday morning, BuzzBuzzHome attended a Mayoral Debate hosted by BILD. Thanks to Stephen Dupuis, President of BILD, for providing us with the his analysis on the debate, and what he took away from the discussion.
Check it out Stephen’s comments, below:
What I took away is that we as a community are very fortunate to have 100 construction cranes in the sky right now, as one of the candidates pointed out. Those cranes are very important for many reasons, not the least of which is that they each represent thousands of jobs.
Collectively, all the high-rise condos, low-rise construction and renovation activity currently taking place in the City adds up to a whopping $7.5 billion in construction, 72,000 jobs, $3.7 billion in wages and more than $2 billion in taxes paid to the various levels of government (OUCH).
While economic impact is important, so is the social impact of the 100 cranes, albeit less obvious. As the same candidate pointed out, Toronto gets very high ratings for livability by objective international standards. The vibrancy of the city comes from the very fact that people don’t just work in Toronto, they live and play there.
Unlike so many U.S. cities which empty out in the evenings and week-ends when workers retreat to the suburbs, Toronto is alive and growing. All the new residents help to ensure the viability of all the service businesses in the City including the restaurants, cleaners, clothiers and convenience stores.
In planning terms, they describe the hollowing out of a city’s core as the hole in the doughnut. Thanks to those 100 cranes, the GTA is like a jelly doughnut with Toronto as the filling.
What did I think of the debate? Ditto to the above mentioned. I just wish one of the Mayoral candidates had a better stance on land-development and how to ensure that the above mentioned continues to be a reality for the future of the City.