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He has read too much about small condos in toronto. That's not what this is sir. Affordable housing is VE'd development but it is also the older apartment that someone moves out of to move into a more expensive newer apartment. Problem in Calgary is we don't have a lot of the latter so we need to do the former.
As expected, This forum leans heavily on the pro development side.
I'm not so sure the investor class that created the conditions to build those now unsellable condos exists here. There are people who buy condos as an investment, I'm not saying there are not but the bloom already seems to be off the rose here a bit. I'm seeing rents fall, higher inventory on the market, and longer days on the market.
As you say the CAP is not there for investors.
I couldn't agree more, but you still need more supply for the population growth we're seeing. There are tens of things that need to be done to help affordability and more supply is one. Its benefits are likely being oversold a bit. And personally I think the affordability cat is out of the bag.
We're 50 years of government housing construction away from something resembling affordable housing and that's hot happening.
Personally, development excites me because of its renewal and overall better use of space. I think the city-wide zoning will stick (even through the court challenge) because every land-use was being granted anyway so its just saving time. Some people took it as an apartment is going to be built next to your suburban home in Lake Bonavista, that wasn't happening. These things are so poorly communicated and do not outline what changes they'll actually have.
We do already tax parking lots. For example, 500 6th Ave SW is assessed at $12.6M and the Chevron building just north of it (500 5th Ave SW) is assessed at $18.7M. Obviously there's still a gap there but $12.6M of assessed value isn't nothing. I'm all for developing on these parking lots, but the reality is the economics needs to be there. Toronto and Vancouver's surface parking has all but vanished in the last 10-15 years not because of some tax but because landowners see more economic uses.New actions announced to encourage building of secondary suites, more homes in Canada
The federal government introduced a number of measures related to housing on Tuesday, which include measures for homeowners wanting to add a secondary suite, taxing vacant land and building homes in place of underused federal properties.www.ctvnews.ca
The second measure announced was the launch of consultations on the taxation of vacant land, a measure which the federal government argues will incentivize landowners to build homes.
"The federal government is seeking feedback from provinces, territories, and municipalities that are interested in implementing their own vacant land taxes," the press release said.
C'mon parking lot tax... In all seriousness they need to give this some teeth. Because what really is vacant land, it isn't a parking lot. I cannot really think of much "vacant" land in the city. Help me out here.
With the project to renovate Victoria Park/Stampede Station now completed, I wouldn't be surprised if we see more activity in that area for sure.
That's a good addition to 16th. That site must have some significant soil contamination from the old Rosedale cleaners which was on that site pre 16th ave refurb (judging by the pipe farm there now).
Yes, architect is NORR and the developer is, interestingly, Morrison Homes.
Thanks!
