The economic and viability…

The economic and viability case for these MZOs and this project has collapsed. The condominium market has both collapsed and shifted, with the market no longer supporting high rise projects dominated by studios and one-bedroom units which is the configuration this TOC proposes. The plan suggests there will be very little green space or enhancements to the local community. Oakville needs family-oriented, complete-community housing, not investor-driven micro-units. The project will not proceed for at least five years, so there is no urgency or justification for imposing these MZOs now. Their only effect is to lock in inflated land values for the developer. IO should pause, shut down this TOC, withdraw the MZOs, and proceed with OPA 70, that is a responsible, deliverable, community-supported plan that is aligned with the changing market. Once granted the MZO cannot be over written or changed I vote NO for these MZOs.