Development Pipeline 2024

Of the total residential units, 86% are not yet built and are either under review, in development approvals processes, or under construction. If all these residential units were completed, they could accommodate an additional 1.04 million people over Toronto's 2024 population. To put that scale of growth into perspective, the City of Toronto is forecasted to grow by roughly 380,000 people to a total population of 3.65 million by the year 2051 as per the target in the Official Plan. Between 2020 and 2024, City Council granted Official Plan Amendment or Rezoning approval to 46,940 units per year on average. Over the same period, 24,342 units per year were issued Site Plan Control approval and 17,888 units per year were built. Toronto's share of housing completions in the Greater Toronto Area has grown consistently and the city now delivers half of the region's new housing supply, more than double the proportion of completions in the Greater Toronto Area 25-30 years ago. The Development Pipeline demonstrates the diversity and geographic distribution of non-residential development in Toronto, providing opportunities to accommodate future employment across the city. Employment Areas remain economically resilient and are attracting new investment, with 1,849,692 square metres of industrial land uses proposed within them, despite economic and policy pressures. The Development Pipeline also illustrates the continuing changes to Toronto's urban structure. The magnitude of proposed development emphasizes the importance of comprehensive long-range planning to manage growth, infrastructure and service delivery in support of resilient, inclusive and complete communities. While the Development Pipeline represents significant potential for future residential and non-residential development in the city and reflects significant activity and progress with respect to development approvals, it is important to note that recent economic conditions create a number of potential barriers for converting the Pipeline's development potential into actual new residential units and non-residential spaces. These factors are outside of the scope of this report but will be important areas of focus for the City Planning Division, in partnership with other Divisions, in the months ahead.