Well, as others have mentioned, saying we need this land to solve the housing shortage and then proceeding to build single family low-rise housing that is proposed for that area is bit of a contradiction. However, if we are going to keep accommodating population growth, and if we build more of what we have always built, then we will have continuous sprawl to Kitchener, Guelph, Orangeville, and Barrie.
I believe the Federal government plans to bring 1,200,000 new immigrants to Canada over the next three years. Ontario generally receives 40-50% of new immigrants, and I believe Greater Toronto receives 70-75% of those.
92,000 new homes in this area is a drop in the bucket of what will be required over this decade to combat a housing shortage.
So no, I don't agree that this highway will solve the housing shortage if we develop all the land around it in that way.
I agree that certain housing choices are not for everyone. We don't build great (or enough) mid-rise or high-rise options for families, and that certainly limits people's choices.