Matt Young

CEO @republic_dev, real estate & urban development pro based in Toronto. Sharing insights, asking questions. Views are my own.

[Matt Young @MYoungTO]

Given how insanely expensive housing has become, I asked my team today to run an analysis on the affordability impacts of taxes and government charges related to housing in the local Toronto high rise context….A THREAD:

[Matt Young @MYoungTO]

Super proud of the accomplishments of our team at @Republic_Dev and Harlo Capital, and excited to be advancing our Scarborough Junction masterplan forward with a transformative $178M equity investment from the @buildingonfund

https://t.co/QmDZLiDCX2

[Mr Richard @Mrrichardv]

This news paired with the recent HST exemption on new homes is big for reducing the cost of housing. Thank you to all those that pushed for this including @MikePMoffatt , @MoreNeighbours , and @MYoungTO 's Coalition Against New-home Taxes. Much more to do but this is excellent!

[Matt Young @MYoungTO]

@ronmortgageguy @MattSpoke Some will break even. Some will still make money. And some may lose. I think the benefit here is that it clears out inventory, leverages the current climate to create affordable housing, while also freeing up liquidity for developers who need to use it to triage other deals.

[Matt Young @MYoungTO]

Necessary. Great leadership

[West End HBA @WestEndHBA]

WE HBA CEO @mikejcw and Vince Molinaro of the Molinaro Group appeared alongside Burlington Mayor @MariannMeedWard in @CHCHNews coverage discussing Burlington’s proposal to temporarily eliminate residential development charges. https://t.co/SAuCpxJ3bm

[Matt Young @MYoungTO]

Bad take. This perspective is everything wrong with Canada right now. “Weak men make hard times”

[Rob Ashton @Rob_T_E_Ashton]

Carney’s four-day return-to-office mandate is complete nonsense.

There aren’t enough desks. It will make services and traffic worse. And govt’s own numbers show remote work could save $6B. This is a pointless waste of money.

Taxpayers and public workers deserve respect not nonsense.

https://t.co/fD9nWVVx0y

[Matt Young @MYoungTO]

@markberrytweets @JohnPasalis Which input are going up? We are seeing downward pressure on costs still.

[Matt Young @MYoungTO]

Today that may be true. But housing needs are evolving and things can turn back to positive on a dime. It’s important there is a system that works before that happens otherwise we’ll be back to the same problem we had before, which was a massive shortage relative to demand which spiked prices.

[Matt Young @MYoungTO]

@JohnPasalis I’m seeing more of this in the luxury world. Small boutique ultra premium projects. Will be curious to see if more mid market boutique projects get launched.

[Matt Young @MYoungTO]

@brendanwhitsitt @ChrisSpoke The left is better. More cohesive design. Simpler. I like the black at grade, which provides a great backdrop for really nice signage, window dressing. Etc. The right has too many things going on.

[Matt Young @MYoungTO]

The punchline here is “buy gambling platforms” but far more interesting is the preamble, which powerfully captures the quiet desperation of young people today. It’s not entitlement; it’s rational frustration when patience and hard work no longer lead to progress, driving many toward high-variance escapes just to feel some agency.
I think the real solution lies in fixing the root cause: building far more housing cheaper, to make that first major hurdle of stability a lot easier to achieve.

[sysls @systematicls]

https://t.co/FQe5bCBqW1

[Matt Young @MYoungTO]

@donnelly_b This is like being a leafs fan. You want it so bad but you have been disappointed enough to have no faith it’s going to happen.

[Matt Young @MYoungTO]

@communicable You’re eating at the wrong places. Quetzal, Edulis, DaNico, Martines Wine Bar, Giulia, Lake Inez, Cote de boeuf, Grey Gardens. Our food scene is top notch.

[Matt Young @MYoungTO]

@ggggmmddgg @JShamess Not for high rise. We only included taxes fees and interest on taxes which are directly paid by the developer or purchaser. Number was just over 29%.

[Matt Young @MYoungTO]

@ChrisSpoke @MarkJCarney I think it should go well beyond that. They have an opportunity to get creative now. We intend to push some creative ideas that will maximize the desired outcomes.

[Matt Young @MYoungTO]

@ChrisSpoke @MarkJCarney My hope is that this agency does no actual home building, but they partner with existing homebuilders who have that expertise, to achieve mutually beneficial objectives.

[Matt Young @MYoungTO]

@Carsten913 @donnelly_b There was a surprising amount of parking around. Many lanes had ground level parking in the rear (in what used to be carriage houses).

[Matt Young @MYoungTO]

Laneways of Mallorca. 8.5 ft wide. Why can’t we do this in Toronto / North America?

@donnelly_b ?

[Matt Young @MYoungTO]

@rightonyukon @donnelly_b It’s only the business I’m in 😂

Name 5 reasons which cannot be solved. I’ll wait.

[Matt Young @MYoungTO]

@donnelly_b @markberrytweets We might be as low as 8m at the pinch points.