Quote:
Originally Posted by Changing City
That was quick!
Presumably the other elements were supported as well. There will be some unhappy developers who have bought rental buildings for condo projects: the economics will change a lot. It'll presumably mean that sales will slow or stop of other rental buildings, at least for a while. I wonder how that relates to projects that are already planned but not yet approved in detail - do all those other Brentwood, Lougheed and Gilmore towers now have to include a minimum of 20% rental?
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It would be nice if the City of Burnaby would allow the transfer of the 20% from a site eligible or with extra capacity or rental buildable space to other sites. I could see say the capacity combined so that one would have entire buildings built to 100% rental or even taller buildings with the bottom half all rental. There are also so many spots where you could build a tower that has no views [make no sense for condos to be sold] but those units could all be rentals which would help to add more capacity.