Posted Sep 12, 2018, 8:21 PM
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Registered User
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Join Date: Jun 2017
Posts: 4,736
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^Probably because you can only charge so much for rent before people can't rent out what you're offering. I mean the maximum average rents to get a DCL waiver are $1,730 for East End and $1,903 for West End 1-bed units... which are about as high as we can go as smaller developers.
Our clients can't take the risk of basing proformas or being able to rent out almost $2,000 for a bachelor unit on the East end along Hastings, so hopefully land prices come down or height relaxations come into effect.
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