If new supply is the solution to Canada’s housing affordability problem, it appears Oakville is doing its part.
The town hit a record high growth rate in 2021, adding nearly 3,000 new housing units.
Growth will continue at an above average pace for most of the next decade, according to a forecast received by town council.
Over the next four years, the town will add more than 10 per cent to its housing supply, which was pegged at 73,558 occupied private dwellings in the 2021 census.
About 2,000 new units are expected to be built every year until 2025, with an additional 1,500 per year coming on line through until 2030.
The forecast, authored by Watson & Associates Economics Ltd., will be used to help establish future development charges.
Development charges are fees the town collects from property developers and uses to build roads, transit, parks, recreation services, fire stations and other infrastructure needed for new residents.
More than 1,500 units approved since May
The following developments have been approved by town council since the beginning of May:
Midtown Oakville
Northeast corner of Trafalgar Road and Cornwall Road: Two towers – 19 storeys and 14 storeys. Proposed to contain a combined 317 residential units and 960 sq.m. of commercial space.
70 Old Mill Rd: 12-storey tower (154 residential units)
Bronte
East Street: 10-storey building (254 residential units)
Uptown Oakville
Northwest corner of Glenashton Drive and Trafalgar Road: A nine-storey (149 unit) building.
North Oakville
East of Neyagawa, south of Burnhamthorpe Road West: 385 residential units (364 detached, 21 townhouses) on 42 hectares
Southeast corner of Sixth Line and Carnegie Drive, abutting Millicent: 28 residential units (9 detached, 19 townhouses) on .9 hectares
Southeast corner of Burnhamthorpe Road East and Sixth Line: 212 residential units (52 street townhouse units and 160 back-to-back and rear lane townhouses)
North of Settlers Road East and south of Marigold Gardens: 32 townhouse units on .51 hectares
West of Sixth Line and north of Carnegie Drive: 193 residential units (103 detached, 90 townhouses)
Sixth Line and North Park Boulevard: 58 residential units (22 detached, 14 semi-detached, 22 townhouses) on six hectares