Condo Conversion Freeze @ 3\% Vacancy Rate
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Saskatoon City Council
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To: Saskatoon City Council
We, the undersigned, request that when the vacancy rate in the City of Saskatoon is below three per cent, that Council prohibit condo conversions (except in the case of special circumstances, such as vacant buildings which have been condemned.)
We are basing this rate on information included in a letter from housing economist Dr. Andrejs Skaburskis of Queen's University, who noted municipal governments commonly prohibit condo conversions when their city's apartment vacancy rates dip below a certain level - three per cent being the most common benchmark - for valid reasons. The following quote is from Dr. Andrejs Skaburskis:
"When the city experiences rapid in-migration of people or real estate investors, the rising housing prices and the diminishing stock of affordable housing make it difficult to attract and keep the lower paid workers that are essential for the city's economic well-being," Skaburskis wrote.
Statistics show that a shrinking supply of rental housing brings about labour shortages in "key worker" occupations: Travel, recreation, the arts, food services, trades, construction, manufacturing, child care, home support and retail, he noted.
"Business owners in Saskatoon would, in my opinion, want to prevent condominium conversions if they were fully aware of the economic consequences of the continuing erosion of the rental stock."
To preserve valuable rental stock, it is imperative that condo conversions be prohibited when the vacancy rate is below 3 per cent.
We, the undersigned, request that when the vacancy rate in the City of Saskatoon is below three per cent, that Council prohibit condo conversions (except in the case of special circumstances, such as vacant buildings which have been condemned.)
We are basing this rate on information included in a letter from housing economist Dr. Andrejs Skaburskis of Queen's University, who noted municipal governments commonly prohibit condo conversions when their city's apartment vacancy rates dip below a certain level - three per cent being the most common benchmark - for valid reasons. The following quote is from Dr. Andrejs Skaburskis:
"When the city experiences rapid in-migration of people or real estate investors, the rising housing prices and the diminishing stock of affordable housing make it difficult to attract and keep the lower paid workers that are essential for the city's economic well-being," Skaburskis wrote.
Statistics show that a shrinking supply of rental housing brings about labour shortages in "key worker" occupations: Travel, recreation, the arts, food services, trades, construction, manufacturing, child care, home support and retail, he noted.
"Business owners in Saskatoon would, in my opinion, want to prevent condominium conversions if they were fully aware of the economic consequences of the continuing erosion of the rental stock."
To preserve valuable rental stock, it is imperative that condo conversions be prohibited when the vacancy rate is below 3 per cent.
165 Signatures
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Cathy Brown
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Jacqui Brown
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Ken Brown
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Matt Doncan
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Melva Armstrong
- Comments
- I am totally in agreement with putting a freeze on converting rental apartments to condos.
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Ruth McCuaig
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Brian MacMahon
- Comments
- Conversions need to be frozen when vacancy rate is less than 3\%!
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Larry and Lynne Currie
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Clara Bayliss
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Kevin Seesequasis
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Adina Wilson
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Rhonda Brown
- Comments
- I find it difficult to believe the council has not done both the research and the necessary controls already.
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Lily Olson
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Ralph Hellmuth
- Comments
- seems reasonable, but then again, i'm reasonable
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Myra Potter
- Comments
- Please keep Saskatoon a city that is affordable and attractive to all our citizens no matter what their income level.
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John Murray
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Karen Comer
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G Duncombe
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Margot Weiner
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Trish St.Onge
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Deborah Bryson-Sarauer
- Comments
- I recently moved to Saskatoon to work for a non profit agency. I left my job working for health to do this important work at a smaller salary but the cost of housing in Saskatoon is certainly making me reconsider my decision to live in Saskatoon. If I as a professional person am finding the cost of housing out of my leaque how are the poor managing?
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Sharron Carr
- Comments
- Please stop the greed
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Luaine Emde
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Garry Emde
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Madaline McDougall
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Cynthia van Seters
- Comments
- We have to consider the needs of all our citizens
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Nadine Marklinger
- Comments
- i live at home with my parents, my adult brothers and my daughter- no chance of moving out. We are in our thirties (except daughter). Parents want to retire. How many other families are doing this?
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Kelly Caruk
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Robin Marshall
- Comments
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Amanda Jezik
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Sue McCart
- Comments
- Who are renters? Students, young families, single moms, people with disablities, newcomers to town, single moms, single dads, people with lower incomes. In fact, anyone can be a tenant. We need to make certain that everyone in our community has access to safe, comfortable, affordable housing. This should not be a privilege reserved for only those with high socioeconomic status. Our economic boom shouldn't disporportionately burden those who have less.
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Chad Nelson
- Comments
- If condo conversions don't stop at such a low vacancy rate, we're going to have the streets flooded with homeless.
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Sheena Roy
- Comments
- this whole thing sucks penises
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n. nutting
- Comments
- It is time for our leadres ti take a stand for the less fortunate, students, disabled, low income people and others. Please do something.
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Elfrieda Ens
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Susan Hossack
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Mick Ellis
- Comments
- Dr. Andrejs Skabusrskis' recommendation is valid.
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Lorraine Ellis
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I.G.Hildebrand
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Dolores Cennon
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Caroline Joa
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Lynn Hainsworth
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Darren Hill, Councillor Ward 1
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Gwendolyn Gresham
- Comments
- If Saskatoon is indeed to shine, we need affordable housing for those workers who keep so many businesses running. If they can't afford housing in Saskatoon, they'll leave, and Saskatoon will not shine for anyone. Please vote to freeze condo conversions when the vacancy rate is 3\% or below.
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Richard Spencer
- Comments
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Judy White
- Comments
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Elta Fae Marlor
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John Botari
- Comments
- Many of the service-industry workers on whom our economy depends cannot afford to own homes, especially in the current overheated housing market. They need safe, affordable, and livable rental accommodations. Please freeze condo conversions when the vacancy rate drops below 3\%!
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Sarah Benson
- Comments
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Jane Bickis
- Comments
- I hope with all my heart that City Council will see the wisdom in voting for a Condo conversion freeze at 3\%.
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165
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