This article is nothing but journalistic opportunism. The writer is trying to capitalize on a horrible tragedy in Houston. Disgusting. Toronto is on a steep glacial lake embankment running south to north. Aside from the low lying areas down by the lake, 99% of which are tall condo buildings, There's no chance of mass flooding. The small group of people who basically trespass on the Toronto islands shouldn't be living there anyway. Residences should rightfully be phased out.  Any damage  from rising lake levels would be minimal. 

Tory is being pragmatic.  The writer is being an alarmist to suit her weak narrative.   The Toronto Buidling code provides for careful management of stormwater and yes it is very costly to developers and ultimately new homeowners. 

My great sympathies to the good people of Houston and beyond.