Impacts on land use permissions and land value
The City of Toronto's proposed new zoning by-law is anticipated to be approved by City Council as early as July 2010. To understand how the new zoning will impact lands that you own or lease in Toronto, we recommend that the in-force zoning permissions currently applicable to your lands be compared to the proposed new zoning provisions.
Any changes to the list of permitted uses, maximum densities, height limits and other performance standards will all affect redevelopment opportunities and directly impact the value of your lands.
Some key points that you may want to take into consideration, whether or not you are seeking to develop or redevelop land, are as follows:
- City Staff are not undertaking a comprehensive review of how the new zoning impacts each parcel of land in Toronto. The onus is on the land owners to stay informed and get involved;
- Any land owner who fails to express concerns or issues with the proposed new zoning prior to City Council passing the new zoning by-law will not be able to maintain an appeal of the new zoning by-law and risks not being added as a party to an appeal at the Ontario Municipal Board;
- Development permissions secured through minor variances are not being captured in the current draft of the new zoning by-law; and
- During the time that the new zoning is under appeal to the Ontario Municipal Board, the Chief Building Official is likely to treat the new zoning, as passed by City Council, as "applicable law" when considering the issuance of building permits where the new zoning is more restrictive than the existing zoning.
For your reference, the proposed new zoning by-law can be accessed through the following link: http://www.toronto.ca/zoning/bylaw/ZBL_NewProvision_Chapter1.htm