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. 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.

The developers, albeit less experienced in real estate during difficult times, should know this. Eventually they will not build any of the current drafted plans, but merely use it as a negotiating card to build something - eventually - that is not in synch with the Oakville plans , nor with the provincial need for low cost housing. They'll wait until they can make a lot of money and can attract the capital to fund the construction. While they are waiting, so has the population to wait for affordable housing. This ill conceived plan basically blocks the logical and necessary housing development in Oakville.

I vote NO for these MZOs.