logo
Orillia changes zoning rules to allow more housing options to unlock $4.5M in funding

Orillia changes zoning rules to allow more housing options to unlock $4.5M in funding

CTV News15-05-2025

The City of Orillia is clearing the way for more homes to be built by allowing up to four residential units on a single lot across the city and opening parts of commercially-zones areas to new housing options.
The changes are aimed at securing up to $4.5 million in federal funding through the Canada Mortgage and Housing Corporation's (CMHC) Housing Accelerator Fund. Orillia has already received $1.1 million, but will need to meet specific goals by 2027 to receive the full amount, including issuing 908 residential building permits and constructing at least 100 affordable housing units.
'As a council, we are committed to increasing housing in our community, and this funding from CMHC gives us the opportunity to take meaningful steps to fast-track new housing initiatives and boost supply,' said Mayor Don McIsaac. 'By updating key policies, we're making real progress in supporting more housing options, especially affordable ones, right here in Orillia.'
Previously, the City permitted a maximum of three units per residential lot. The new rules increase that number to four, allowing property owners to add additional living spaces. While the zoning has been updated, all new construction must still meet building code and property standards.
To help residents navigate the process, the City has published a guide on its website, outlining steps and requirements for adding additional units to existing properties.
In addition to residential changes in neighbourhoods, Orillia has also amended its policies to allow a mix of residential uses on some commercially-zoned properties in the city's west end, such as areas near big-box retail stores. City staff say this will help transform underused commercial land into sites for housing development.
'We are committed to keeping our planning policies current and taking opportunities that increase our supply of housing,' said Katy Modaressi, Orillia's director of development and infrastructure planning. 'This is a smart way to make better use of existing land and bring more homes to Orillia.'
The changes are part of a broader strategy by the City to address the housing shortage, particularly when it comes to affordability.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Forget Robotaxis and Humanoid Robots: Morgan Stanley Thinks This Technology Is the Real Secret for Tesla Stock to Soar
Forget Robotaxis and Humanoid Robots: Morgan Stanley Thinks This Technology Is the Real Secret for Tesla Stock to Soar

Globe and Mail

time37 minutes ago

  • Globe and Mail

Forget Robotaxis and Humanoid Robots: Morgan Stanley Thinks This Technology Is the Real Secret for Tesla Stock to Soar

While investors fixate on Tesla's (TSLA) robotaxi ambitions and humanoid robots, Morgan Stanley believes the company's next breakthrough could come from an unexpected direction: the emerging drone and electric vertical takeoff and landing (eVTOL) market. The investment bank sees this 'low altitude economy' as representing a $9 trillion total addressable market by 2050. Tesla's potential entry into this space has gained attention following recent geopolitical events. Moreover, Morgan Stanley noted that drone warfare capabilities have become strategically critical. CEO Elon Musk himself warned on Tesla's earnings call that countries unable to manufacture their own drones risk becoming 'vassal states' to those that can, highlighting America's current manufacturing deficit compared to China. What makes Tesla uniquely positioned for this market isn't just ambition, but the company's existing technological infrastructure. Morgan Stanley highlights Tesla's proven expertise in battery storage, navigation systems, autonomous driving technology, robotics, and large-scale manufacturing as transferable skills that are ideally suited for the development of drones and eVTOLs. The financial implications could be transformative for Tesla shareholders. Morgan Stanley estimates that capturing even a small fraction of the eVTOL market could add between $100 to $1,000 per Tesla share. These estimates indicate potential upside that could easily dwarf the current robotaxi valuations. Morgan Stanley argues that a single eVTOL could generate revenue equivalent to 15 ride-hailing vehicles, which showcases the superior economics of aerial transportation. Unlike robotaxis, which face regulatory hurdles and require extensive real-world testing, the drone market presents a more immediate opportunity for growth. Tesla's vertical integration advantage positions the company to compete effectively against established aerospace players who lack its innovation speed and cost structure. Ark Invest Is Bullish on the Robotaxi A research report from ARK Invest positions Tesla as the clear frontrunner in the emerging robotaxi market. Ark Invest, run by famed growth investor Cathie Wood, cited several critical competitive advantages that could generate massive value for investors. According to the report, Tesla's competitive edge lies in its unparalleled data collection capabilities. For instance, the EV maker's existing fleet generates over 5 million miles daily through its Full Self-Driving software and has accumulated 87 million total US miles, compared to Waymo's 70,000 daily miles. This vast data advantage provides Tesla with diverse real-world driving scenarios that competitors cannot match. Fleet scalability represents another crucial differentiator. While Waymo operates roughly 700 vehicles across limited cities, Tesla can leverage 6.5 million existing vehicles globally equipped with compatible hardware. It can rapidly deploy Model 3 and Model Y vehicles from lease returns and inventory, while customer-owned vehicles can supplement the fleet through opt-in programs. Cost advantages further strengthen Tesla's position. ARK estimates Tesla's Model 3 production cost at $40,000, compared to Waymo's vehicles, which cost over $100,000, with sensor packages alone costing over $40,000. Additionally, Tesla's vertical integration reduces its reliance on external manufacturers, such as China-based Zeekr (ZK), which faces potential tariff headwinds. The financial opportunity appears enormous. ARK projects that robotaxi platforms could reach $4 trillion in net revenue by 2030, with Tesla potentially commanding take rates exceeding Uber's (UBER) 30% due to a superior cost structure. Higher utilization rates above 50% could significantly undercut traditional ride-hail pricing. Beyond financial returns, Tesla's autonomous driving technology could prevent over 40,000 U.S. deaths annually. FSD-equipped vehicles have already demonstrated five times better safety than non-FSD Tesla vehicles and 16 times better than average cars. Is TSLA Stock Undervalued? While Tesla is part of multiple expanding addressable markets, the company must demonstrate its ability to execute and gain traction in these key stock currently trades at 155x forward earnings, which is higher than its three-year average of 114x. Analysts expect Tesla's earnings to increase by 29% annually over the next five years. Out of the 41 analysts covering TSLA stock, 16 recommend 'Strong Buy,' two recommend 'Moderate Buy,' 13 recommend 'Hold,' and 10 recommend 'Strong Sell.' The average target price for TSLA stock is $292, roughly in line with its current price.

Is Amazon Paying $4 Billion to Break Up With UPS?
Is Amazon Paying $4 Billion to Break Up With UPS?

Globe and Mail

time40 minutes ago

  • Globe and Mail

Is Amazon Paying $4 Billion to Break Up With UPS?

Amazon (NASDAQ: AMZN) is an online retail powerhouse, selling and delivering its own products and acting as a middleman for other retailers. The company's delivery trucks are ubiquitous in some areas of the country. But it has even bigger aspirations when it comes to getting products to customers. So why did United Parcel Service (NYSE: UPS) decide to stop handling as many Amazon deliveries? Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » The Amazon and UPS breakup As with any good breakup drama, the story between Amazon and UPS, as United Parcel Service is called for short, is hard to call. UPS says that the Amazon business it was doing was high volume, but low margin. That meant that it didn't add enough to the bottom line to make it worth the top-line benefit. UPS says it plans to step away from half of the business it does with Amazon over the next couple of years. That effort is in keeping with UPS' goal of improving the quality of its business. But management highlighted that it will still work with Amazon on some things. Notably, Amazon is increasingly good at delivering its own wares, but it doesn't have a strong handle on returns. With a large retail store network, UPS can still provide return services to Amazon at an attractive return for UPS shareholders. So the relationship isn't dead -- it's just different. Or, you could say, they will still be friends. Amazon is paying up to fill the gap UPS' decision to put limits on its relationship with Amazon is a problem for Amazon. While it is true that Amazon has been growing its distribution capabilities, it now has to step up more quickly than it might have planned. To that end, Amazon recently announced that it was making a capital investment of up to $4 billion to enhance its ability to make rural deliveries. And it inked a deal with UPS' peer FedEx (NYSE: FDX), where that carrier will handle larger packages for Amazon. The market saw all of this as a win for FedEx and a loss for UPS. For Amazon, it wasn't too big a deal, noting that the stock is widely adored on Wall Street right now. While Amazon's stock is about 15% below its all-time high, its price-to-sales and price-to-earnings ratios are both above their five-year averages. And they are both fairly lofty on an absolute basis, as well. Still, it looks a little like Amazon is scrambling to take on the distribution services that UPS is willingly giving up. So what about UPS? The company's stock has lost more than half of its value since hitting a peak in 2022. In fact, it made the Amazon announcement just as it appeared it was getting its business back on track following a period of weakness that led to a corporate overhaul. Indeed, revenue had started to grow and margins appeared to have stabilized. Moving away from low-value Amazon business was a preemptive move made at a time when UPS had shifted from business weakness to business strength. In other words, UPS is being proactive because it sees the writing on the wall. Its Amazon business was going to keep shrinking anyway, so why not get ahead of it? The costs Amazon is incurring to make up for the loss of UPS as a delivery service is a sign that this was a big deal. But it will be a bigger deal for Amazon than UPS, since UPS was clear that the business wasn't very profitable. In fact, UPS could end up the big winner if the ability to slim down allows it to further improve its margins, even if the top line of its income statement shrinks along the way. Don't sleep on UPS as an investment Wall Street loves Amazon, and perhaps for good reason. But the stock is trading with a premium price tag. UPS, which could actually end up being the big winner in its breakup with Amazon, is deeply unloved. Notably, its price-to-sales and price-to-earnings ratios are well below their five-year averages. The stock's dividend yield, meanwhile, is historically high at around 6.7%. There's no question that UPS has extended the length of its turnaround by breaking up with Amazon. But the near-term pain could be exactly what it needs to rise up again. Contrarian investors, dividend investors, and value investors should all be doing a deep dive into UPS today with the idea of adding this unloved delivery service to their portfolios. Should you invest $1,000 in Amazon right now? Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Amazon wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor 's total average return is789% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 2, 2025

Canada to meet 2% NATO spending pledge this year: Carney
Canada to meet 2% NATO spending pledge this year: Carney

National Post

time44 minutes ago

  • National Post

Canada to meet 2% NATO spending pledge this year: Carney

OTTAWA — Prime Minister Mark Carney is pledging that Canada will achieve NATO's two per cent target this year — five years ahead of his prior commitment which promised to meet the mark by 2030. Article content Carney, who is set to attend the NATO Summit later this month, made the announcement in a speech at the Munk School of Global Affairs and Public Policy in Toronto on Monday. Article content Article content He said Canada's strategy is focused on four pillars: investing in the men and women who serve, expanding and enhancing military capabilities, strengthening the government's relationship with the defence industry and diversifying Canada's defence partnerships. Article content Article content 'We will ensure every dollar is invested wisely, including by prioritizing made-in-Canada manufacturing and supply chains,' he said. Article content 'We should no longer send three quarters of our defence capital spending to America.' Article content Carney said the government will invest in new submarines, aircraft, ships, armed vehicles and artillery, as well as new radar, drones and sensors. He also committed to a larger and sustained Canadian Armed Forces presence in Canada's north, year-round. He said the government will expand the reach and security mandate of the Canadian Coast Guard and integrate those investments into Canada's defence capabilities. And he said members of the Canadian Armed Forces will receive a 'well-deserved' salary bump. Article content Article content 'We will further accelerate our investments in the years to come, consistent with meeting our new security imperatives,' he said. Article content Carney called on all parties in Parliament to support these 'critical investments in our security and sovereignty.' Article content He will be taking questions from reporters this afternoon. Article content

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store