Quote:
Originally Posted by Civchic
I agree with Goldfinger here. My company is a sub-consultant on a new development going on (no I won't say which one) and there have been well over 3 million dollars already spent on feasibility studies, consultants, subwatershed studies, etc. It's still growing corn, headed to the OMB, and likely won't start construction for at least another two years. And at least another million dollars.
Yet - it is still easier to do that than to develop in the city. Besides - the profit is there, because a giant portion of the population will still buy into the slice of green idea. People buying $400,000 homes in Waterdown are not going to buy condos in downtown Hamilton, and you have way more of the former just now.
Profit is the driving force.
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The consultants have become such a critical piece of the process now. I have to admit I was never sold on their value until I started using firms like PEIL and IBI. I found they are much more efficient at getting approvals done because they have excellent relationships with city staffers due to the fact that many actually worked in the planning and development departments and know how to work the bureaucracy. Now, I wouldn't even think of going for a draft plan approval with them quarterbacking.