The more floors allowed in new projects, the more feasible they become.
In cities such as Toronto and Vancouver, the move away from apartment construction and towards condos is already well underway.
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.