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Originally Posted by acottawa
What's the mechanism for the immigration explosion? The Liberals have increased immigration targets somewhat compared to what they were under the Tories, but I am unclear how the transition from modest increase to explosion works.
Even if there was some sort of massive increase, it is unclear that this development (or other similar developments) are targeted a new immigrants. Immigrants who arrive with money (or into a high paying job) are usually keen to purchase real estate fairly quickly. Immigrants who arrive with limited resources are unlikely to be able to pay the premium that this development (and other similar developments) are looking for.
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I have read a few articles about how Ottawa has been increasingly getting the attention of new immigrants lately. Historically Ottawa has been mostly overlooked but I think that is changing as the city grows and develops more amenities. In fact, right now 26 per cent of our population is foreign born. Toronto is just about 50 per cent, so we have a lot of catching up to do but you can see it on the streets...people are coming. As for the impact on rentals remember there is only one pool of rental stock in the city. As foreign immigrants take the least expensive or most easily available stock, the upwardly mobile will take higher priced stock. A development like this might not be an immigration magnet but it will certainly attract the more financially capable people in the rental market that will have less affordable options because of the constantly increasing immigration to the city.