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

A surprising answer to the question: Which big bank has the best mobile app?
A surprising answer to the question: Which big bank has the best mobile app?

Globe and Mail

time16 minutes ago

  • Globe and Mail

A surprising answer to the question: Which big bank has the best mobile app?

The basics of a good mobile banking app are seamless and speedy log-in, modern appearance and easy navigation. According to a new J.D. Power customer satisfaction survey, the Big Five banks all deliver on these points. 'It's getting harder to tell the nation's banks and credit card company mobile apps and websites apart from one another,' the survey concludes. Do Canadian banks have a homogeneity problem? Their earnings and stock market performance certainly differ, but there's a sameness to the customer experience once you get beyond logos and colour schemes. App parity reflects this, but so other aspects of consumer banking. Does any bank do chequing, mortgages or investments demonstrably better than the rest? Canadian Imperial Bank of Commerce took top spot in banking app satisfaction with a score of 641 out of 1,000, Toronto-Dominion Bank scored 631, Bank of Montreal and Royal Bank of Canada 626 and Bank of Nova Scotia 620. On credit-card apps, American Express led a larger field of competitors with a score of 692 and Tangerine was second at 669. After that, most competitors were bunched in the mid- to low-600 range. J.D. Power says banks have spent years maximizing the functionality of their apps within the limits of their current technology. The next frontier will be adding AI-based functions, which clients are encountering more in other aspects of their lives. I use a few alternative bank apps and haven't yet found any that crush the competition. But as we look ahead to open banking, let's not concede that all apps will be more or less the same. Open banking will allow bank clients to securely share financial data with alternative players. Let's see whether they can use it to build a better app. A surprising finding in the J.D. Power customer satisfaction numbers is that people like multi-factor authentication when logging into a mobile app. MFA can be a hassle if you're in a hurry. For example, you may be asked for a verification code sent to by your bank via text, or to use a fingerprint reader. Still, J.D. Power said overall customer satisfaction is 12 points higher when customers use multi-factor authentication before logging in. This shift reflects improvements banks have made in the usability of MFA, and an increased focus on security by bank customers. Are you reading this newsletter on the web or did someone forward the e-mail version to you? If so, you can sign up for Carrick on Money here. Housing affordability: Canada vs. the U.S. Vancouver, Toronto and Victoria top this ranking of North American cities by housing affordability – specifically, mortgage payment as a percentage of income. The list highlights just how much cheaper homes are in the U.S., even in big cities like New York. Top choices for simple and great investing An investing blogger sorts through some of the biggest asset allocation exchange-traded funds and identifies some top choices. Asset-allocation ETFs are a simple, cheap and excellent way to build a fully diversified portfolio of exchange-traded funds. Personal finance's independence movement Christine Benz, director of personal finance and retirement for the investing analysis company Morningstar, recently attended an event held for people who follow the F.I.R.E. philosophy – financial independence, retire early. She picked up a few lessons to pass along on balancing work and the powerful idea of financial freedom. Bet you lose Toronto Life on the betting scandal involving a former Toronto Raptor. What I took away from this story is a sense of shock about the amount being wasted on ridiculous sports betting. The player in question was a day trader, and a gambler. Subscribe to Stress Test on Apple podcasts or Spotify. Q: If we are going to experience rough seas for the next two to four years, I want to be on the largest warship in the fleet. That would be U.S. equities. Is that approach reasonable? A: As dominant as the U.S. stock market has been in the past decade, strong returns from Canadian stocks lately mean the five-year annualized total return of the S&P/TSX composite index is now more or less even with the S&P 500. Meanwhile, international stocks have been coming on strong. The U.S. market offers exposure to leading companies in tech, health care and consumer discretionary stocks, but investors are looking at other markets these days. Do you have a question for me? Send it my way. Sorry I can't answer every one personally. Questions and answers are edited for length and clarity. Tools and guides A beginner's guide to guaranteed investment certificates. In the social sphere Social Media: How often do people upgrade their smartphone? Watch: Thoughts on the worries involved in home ownership. Not buying so much, but living up to the responsibilities of owning a property. Money-Free Zone: Paul Weller has to be one of the most eclectic and versatile musicians around. He's been a new-wave rocker, a neo-soul musician and, more recently, a singer-songwriter who puts out nuggets like this new cover of a 1974 song called Pinball by singer-actor Brian Protheroe. You can catch Weller at his new wave peak in That's Entertainment, an all-time great song. Weller's soul-era band was called The Style Council – here's one of their most enjoyable songs, The Big Boss Groove. More PF from The Globe - Five tax tips for cottage owners this summer season - The best time to make a lump-sum mortgage payment, according to the experts - Canadians go elbows up on U.S. travel, opting for these destinations instead - Trump-proofing your wallet

Acquiring U.S.-made F-35 fighter jets will cost Canada nearly 50% more than disclosed, Auditor-General finds
Acquiring U.S.-made F-35 fighter jets will cost Canada nearly 50% more than disclosed, Auditor-General finds

Globe and Mail

time16 minutes ago

  • Globe and Mail

Acquiring U.S.-made F-35 fighter jets will cost Canada nearly 50% more than disclosed, Auditor-General finds

The cost of replacing Canada's aging warplanes with U.S.-made F-35 stealth strike fighters is expected to cost nearly 50 per cent more than the estimate Ottawa provided Canadians, a report from the federal Auditor-General says. These findings arrive as Prime Minister Mark Carney's government is weighing whether to scale back Ottawa's order for the F-35s and instead buy European-made fighter planes to reduce Canada's reliance on U.S. military equipment. The federal government, which finalized a deal to buy 88 F-35 Lightning fighters from Lockheed Martin in December, 2022, said the acquisition would cost about $19-billion. But Auditor-General Karen Hogan's office said Tuesday it found this figure was based on outdated information and that by 2024, estimated costs had increased to $27.7-billion. The warplane replacement program also faces significant risks that could jeopardize the introduction of a new fleet of fighters, the Auditor-General found. Construction of two new fighter squadron facilities in Cold Lake, Alta., and Bagotville, Que., to accommodate the F-35s is more than three years behind schedule and the Forces are facing a possible shortage of qualified pilots, the watchdog said Tuesday. Trimming F-35 order could antagonize Trump as security and trade talks get under way: analysts Inflation, fluctuations in foreign exchange rates and heightened demand for munitions are three factors have driven up the cost of acquiring the F-35s, the Auditor-General found. The Department of National Defence 'was supposed to closely monitor inflation and foreign currency exchange rates because of the potential impact but did not always do so,' it said. The Office of the Auditor-General said even the updated $27-billion-plus price tag for the F-35s does not include essential Forces infrastructure upgrades and advanced weapons that would add at least another $5.5-billion to the total cost of acquiring the fighters. Opinion: The solution to Canada's F-35 fighter jet dilemma? Buy both American and European aircraft Canada's current fighter aircraft fleet of CF-18s is reaching the end of its service life and must be replaced in a timely manner to meet operational commitments such as the defence of Canada and North America, the Auditor-General's office noted. CF-18s are the primary Canadian aircraft assigned to the bilateral North American Aerospace Defense Command and are supposed to be on continuous alert to respond to potential aerial threats to the safety of North America, it said. The CF-188 Hornet first entered service in the 1980s. The operating life of the Hornets has been extended through a refurbishment initiative known as the Hornet Extension Program, or HEP. CF-18s are supposed to be gradually withdrawn from service between 2025 and 2032 and replaced with F-35s. David McGuinty, the Minister of National Defence, said in a statement he takes the auditor general's findings seriously. He committed to updating Canadians regularly on acquisition projects and blamed the huge cost increases on 'external economic conditions driven by the COVID-19 pandemic, including global supply chain disruptions, workforce shortages, and increased inflation and foreign exchange rates.' The minister did not comment on the ongoing review in his department of whether to reduce the F-35 order. Shortly after Mr. Carney took office in March, he said Ottawa would weigh trimming its F-35 purchase plans to buy an alternative aircraft that would be more cost-effective and could deliver additional industrial benefits domestically instead of sending more dollars to the U.S.

Strategy (MSTR) Buys Another $110 Million of Bitcoin
Strategy (MSTR) Buys Another $110 Million of Bitcoin

Globe and Mail

time19 minutes ago

  • Globe and Mail

Strategy (MSTR) Buys Another $110 Million of Bitcoin

Strategy (MSTR) continues to purchase Bitcoin (BTC) even as the price rises. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter In the past week, the software company turned serial Bitcoin acquirer bought an additional 1,045 BTC for $110.2 million. The company, led by founder Michael Saylor, paid an average purchase price of $105,426 each for its latest Bitcoin accumulation. Strategy, formerly known as MicroStrategy, now owns 582,000 Bitcoin worth $62.5 billion. The company is the largest corporate owner of BTC in the world. Strategy's average purchase price for its Bitcoin holdings is $70,086 per digital token. Funding Purchases Last week's buys were funded via at-the-market sales of Strategy's preferred stock, according to a regulatory filing with the U.S. Securities and Exchange Commission (SEC). The company remains committed to its focus on aggressively acquiring Bitcoin. Strategy's stock has risen 25% this year to trade at $374.47 per share. The price of Bitcoin is currently right around $107,500, having gained 12% on the year. Is BTC a Buy? Most Wall Street firms don't offer ratings or price targets on Bitcoin, so we'll look instead at its three-month performance. As one can see in the chart below, the price of BTC has risen 34.14% in the last 12 weeks.

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