We talk a lot about the greenbelt here in Toronto. Some argue that it’s squeezing the housing market and driving up prices.
But what about the yellowbelt? (Credit to Gil Meslin for the term.)
Here is a land use map of Toronto:
The yellow areas are “neighborhoods.” They, along with parks, ravines, watercourses, and valleys, make up ¾ of the city’s land area. The Official Plan describes these areas as being “stable” – meaning they will see little physical change. Supply cannot adjust to demand.
I get why this is the way it is and I understand how difficult it would be change something like this. But let’s not ignore the impact that this land use constraint has and will continue to have on the housing market.
It’s the yellowbelt. Thank you Gil for letting me to steal the name.