Concern is growing over the number of lots available for new housing in the city.
While a city report heard by council Monday says there is currently a sufficient supply of lots, city development manager Mark Smith said a lot of those lots are in the draft plan approval stage. That stage doesn’t necessarily means homes will be built on those lots Smith said.
"Draft plan approval has no sunset time they can sit on that approval for as long as they want. It may make sense to take a look at how long developers can hang on to draft plan approval before that approval lapses," said Smith. "So that would encourage development to happen quickly."
In terms of years, the report says the city currently has a 2.4 year supply of residential lots in the city.
"The number of lots is getting smaller and smaller," said Smith. "Supply is becoming quite a concern."
Coun. Iain Angus said those lots aren’t being developed with homes people need. He said the city needs to get real estate brokers, developers and builders together to make sure the right type of home is being built.
"Somebody looking for a started home is just out of luck," said Angus. "I think we’re developing a crisis."
Smith said that’s why the city needs to look at ways to remove constraints and develop policy to encourage developers to act on the DPAs they’ve been given.
"What we’d like to do is make sure that the real supply is there to meet demand," said Smith.
When DPA lots are factored in, there is an 11.4 year supply of lots in the city. Angus said he’s also concerned that high-income earners coming to Thunder Bay to work in fields such as medicine will also have trouble finding a home. Angus said many lots in the DPA stage don’t even have roads or sewer lines yet.
"I’m worried that we’re going to see people wanting to come to this community and nowhere to buy," said Angus.
The report was for information only.
