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Originally Posted by Innsertnamehere
IIRC Hamilton is one of the few municipalities actually tracking to be somewhat close to the housing target, as well. Not the best municipality out there, but doing decently well.
Design District and Television City alone are ~1,550 units alone.. so 40% of the 3,800 units or so needed to qualify this year.
Edit: looking at the stats, 2023 YTD is 1,351 units.. so Hamilton's gotta pick up the pace a bit.
Construction start is defined as the basement slab pour, so Design District and Television City won't be on there yet.. (Television City may not make it until 2024) so the pace should increase a bit, at least.
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4,200 units is the 80% figure. The full annualized rate is ~5,200 (assuming a 9 year 2022-2031 timeframe) for the 47,000 provincial target for Hamilton. I also don't know exactly what metric the Province will use for eligibility. Is it approvals in each calendar year? Building permits?
It's also worth noting that this new potential funding will not make up for the revenue shortfall associated with the changes to development charges that can be levied as a result of Bill 23.
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