While sales may be slowing Kennedy Stewart seems to be the god of development as he will need to heavily push for development to afford the city’s capital plan. With markets slowing I’m guessing huge increases in zoning are going to be offered in return for CACs. He’s going to have an intersting time balancing the political push for developers to build rental/social while trying to collect the big CACs the government was getting from market strata.
https://www.theglobeandmail.com/canada/b...-stewart-says-city-is-open-for-business/
Quote:
Vancouver’s incoming mayor says he wants the development industry to know the city is open for business on housing as the city banks on developer fees to support its capital plan.
Mayor-elect Kennedy Stewart inherits the challenge of tackling one of the continent’s most difficult housing crises when he takes office on Monday. With more than half of the city’s capital plan funding to come from developer fees, he will need to work with a divided council to realize the city’s ambitions while ensuring the development industry is motivated to participate.
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