Toronto is fairly encouraging of building as well. It's just that it's the fastest growing city in the western world so demand is growing faster than supply.

Most cities have problems with staying creative in the face of high rents because most artist jobs pay very poorly (unless you're one of the few who makes it big). It's pretty terrible that musicians, writers, painters and sculptors tend to be in salary brackets where they can never retire and never own a home unless they become huge.

The art and culture of a city will suffer greatly if the next generation of artists is entirely forced into corporate jobs with part time on art. This is even more true if those jobs require creativity reducing the creative energy available for art.