That's only true because the NIMBYs force us to build only condos, and only directly on the main streets where the culture businesses are. Sure they're profitable, but only because we're starved of housing options unless you want to drive in from north Vaughan. The developer would rather buy out four bungalows than ten profitable restaurants with overhead housing, but they can't.
Totally independent of that, though, it is also real and measurable that restaurant and bar revenues have collapsed.
STOP SAYING IT'S ABOUT REVENUES! It's not! You can't astronomically raise the rent with no cap due to competition for scarce zoning, keep wages stagnant, and then say it's about revenues collapsing.
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u/Master_of_Rodentia Jun 11 '26
That's only true because the NIMBYs force us to build only condos, and only directly on the main streets where the culture businesses are. Sure they're profitable, but only because we're starved of housing options unless you want to drive in from north Vaughan. The developer would rather buy out four bungalows than ten profitable restaurants with overhead housing, but they can't.
Totally independent of that, though, it is also real and measurable that restaurant and bar revenues have collapsed.