The more floors allowed in new projects, the more feasible they become.
Over the last 12 months, apartment building completions in Toronto reached a 25-year high.
Average rent prices in the GTA rose 4.9 per cent over the last year.
Average rents grew by 2.5 per cent, amounting to about $30 more per month.
The province has a rental vacancy rate of 1.4 per cent.
In the Greater Toronto Area, monthly rents rose by $63, on average.
Horgan government will spend $492 million on 4,900 subsidized rental units.
On average, it takes one-and-a-half years before builders can break ground in Toronto.
City hall can reduce the cost of building new apartments on expensive lots by zoning for greater density.