Single-person households → 1-bed demand. Large families → 3+ bed. Drives unit mix weights in the pro forma.

High seniors → accessible design. Student-heavy → small furnished units. Young families → storage + school proximity.

High renter share → purpose-built rental viable. Low renter share + rising HHI → strata exit viable. Determines exit strategy.

Sub-2% → strong demand, rents hold. Above 5% → oversupply risk. Affects lender confidence and pro forma revenue assumptions.

30% of gross income = shelter cost threshold. Below $60K HHI → units above $1,500/mo face affordability drag.

If 35%+ of residents already spend over threshold → cost-burdened. Validates demand but caps achievable rents.

Sets pro forma revenue per unit. Compare CMHC average to new-build achievable. Gap = rent premium potential or risk if too wide.

Low-rise wood-frame runs ~$200–280/sqft hard costs in Toronto. Soft costs add 20–30%. Affects break-even rent and IRR targets.

StatsCan BCPI (Table 18-10-0276-01) tracks quarterly construction inflation. Applied as hard-cost escalation in pro forma timeline.

Toronto DCs vary by unit size. 3-bed units attract higher DCs. As-of-right multiplex may qualify for exemptions — a major feasibility lever.

Multi-unit insurance by LTV band (1%–4%). Energy Star / net-zero discounts reduce premium by 0.25–0.75%. Wired into debt structure.

$840/unit enrolment for freehold builds. Condo adds $335 registration. Baked into admin & warranty section of pro forma.

Construction loan rate = prime + spread (typically +200bps). BoC Valet API provides real-time rate — directly affects debt carry cost.

RD / RS / RM = as-of-right multiplex (4–6 units, post-2023 bylaw). No rezoning = faster timeline, lower risk.

Frontage, depth, and FSI/GFA limits determine how many units physically fit. Min 6m frontage per unit for rowhouse.

Within 500m of subway / 250m of streetcar → 10–20% rent premium. Reduces parking demand — saves $75K+ per stall in construction cost.

High walk score reduces parking assumptions. Schools within 400m boost 2–3 bed family unit demand.

Rising multiplex permits = competitive supply incoming. Low count despite demand = underserved ward.

Heavy condo completions in the same submarket compress achievable rents. CMHC tracks completions quarterly.

Old stock (pre-1980) = deferred maintenance. New entrant with modern units can command 20–30% above average market rent.

Zone-family $/PSF benchmarks (RD–CR) adjusted by ward. Sets gross terminal value for condo exit or land value back-calculation.

Long-tenured renters (5+ years) = rent-controlled units far below market + demolition conflict risk. Screen early.

Some councillors obstruct as-of-right permits informally (delayed sign-offs, heritage flags). Toronto ward voting records are public.