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Re: 'Long, long, long story: Construction begins on Newmarket apartment complex, Oct. 21, 2024.
I hardly understand how Redwood’s new 21-storey rental apartment complex at 17645 Yonge St. is the solution to housing accessibility in Newmarket.
There is a need for a diversity in types of housing, but I don’t know how a high-end apartment complex fits into the goal of increasing accessibility. The cost of housing is an important aspect of accessibility that feels overlooked in this project.
As a young person who grew up in Newmarket, I have little faith that I will be able to remain here after I graduate university. The value of my parents’ house has tripled in the last two decades, which is insane for a generic suburban home. With high housing prices infecting even smaller municipalities, homeownership remains a far-off wish for young people today.
Which is why Mayor John Taylor’s statement that “half the kids in high school today will rent for life. They need options,” saddens me. This complex is not an option for young people in a town that has rent prices for a one-bedroom comparable to larger cities in the Greater Toronto Area. This statement ignores the implications behind why young people will "rent for life" — because homeownership is astronomically inaccessible in today’s age for young people.
Most of all, a lack of affordable housing in Newmarket will drive young people away as lower housing prices are a huge incentive for living in smaller towns. High-end housing projects like 17645 Yonge St. are only an option for existing homeowners and will not improve housing accessibility in Newmarket.
Erin Tenpenny
Newmarket
