Quote:
Originally Posted by jlousa
Usually when the city rezones it's beneficial to property owners. Making an area rental only would have negative effects on values... My suggestion to them years ago was not exclusive zoning but bonus density to the point where the values offset. IE 2.5FSR at 4 floors market condos, or 3.5FSR 6 stories for rental all withing the same zoning, allow the property owner to decide which route to take. CACs and DCLS would still be payable so the rest of the city doesn't get the burden. Those numbers could be tweaked over time to obtain the desired outcome.
|
That sounds like a reasonable idea, why don't they do it?
With regards to zoning, in an insane market that always seems to go up perhaps it seems beneficial, but in a balanced market, zoning decisions can drive prices down. For instance, what would happen to those properties in Fairview if the city rezoned all their leasehold properties in South False Creek for view-blocking towers?