That last line shows where you really stand.
The idea is that EVERYONE should be able to live downtown and that our city would be all the better for it; not only the very poor but the middle income all the way up to the rich.
As for your land values/"prime real estate", Toronto doesn't have an issue with that. Toronto does, however, have a problem with equality and affordable housing for all different income levels.
Anyways, if your priorities place some imaginary need for more expensive real estate on prime land above creating a healthy mixed social realm for our city, then our values don't line up whatsoever so I won't be trying to convince you. Just know that the current model of downtown being too fashionable for all but the rich isn't going to work forever.
It is not my priority to place more expensive real estate on prime land, and I am not against low income families living downtown at all.
What I am saying is that the government should not artificially create such affordable housing zones - which will likely degenerate into gettos making itself and nearby areas less valuable and hard for business to survive. And my other question is, the affordable housing projects obviously have a income threshold - not everyone is qualified. If that's the case, what about those who are slightly above the threshold but are not wealthy enough to live downtown, isn't it unfair to them?
That said, downtown Toronto is not too fashionable for all but the rich right now. Maybe those ultra-glitzy condos are (and many of their buyers save a lot and sacrifice space, let's not forget that), but there are still plenty of pretty inexpensive rentals scattered around the core. You don't exactly need to make $100k in live downtown, unless you
have to own a new condo at the most desirable location, which is absurd.
I think as a large city, downtown Toronto did pretty well in maintaining both its attractiveness and affordability. Look at other cities around the world, not many have the number of affordable rentals in the core.
And if you think the poor should be able to
purchase properties in the core too, and it is the government's duty to guarantee that, then I totally disagree. If that's the case, why not build affordable housing in Rosedale, Yorkville and Forest Hill as well, as apparently low income/middle class people should have the "right" to live there too.