Quote:
Originally Posted by Spr0ckets
I can only speak from my own personal experience (which my 'equally dumb' opinion is based on) having worked on a project proposal in Downtown Vancouver which couldn't go forward because the developer couldn't get the extra density (i.e. height) they needed to make the rental component of the project (which included affordable rental units) work with the numbers to make the project viable, .....thanks to one of these viewcones.
That's a real world project that was impacted by a viewcone that was going to bring additional housing to the market including more affordable rental that now isn't happening. In the sort of location where people who can't afford to live in Downtown but work there and have to commute instead would have greatly benefitted from living in.
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That sounds like a developer who had unreasonable expectations of profits, or paid too much for their site. The viewcones have been around since 1989. They haven't got shorter. Their potential impact on a site hasn't been hidden. And the site that wasn't developed because the developer couldn't make it work is still available to be developed, but presumably with the number of units that fit under the viewcone (and that the site value should reflect).
The housing market for new apartments has held up surprisingly well, so developers have continued to propose, and build new towers throughout the past few years when higher interest rates, and policy designed to prevent second homes and short-term rentals has been reported to have impacted demand.
Amacon just started construction of Block on Robson. Bosa are building 1515 Alberni and Anthem are excavating for Park on West Georgia. The two towers of Landmark are just completing on Robson, with a podium on non-market rental on the lane. Bosa and Kingswood dropped their pair of Barclay Street condo and rental towers, and have switched them to taller, 70% rental. Bosa4Rent are building two rental towers (with below market units) on Harwood where they originally planned a mix of condo, and rental. Butterfly includes a non-market block. Curv includes a non-market podium.
All of those sites are being developed with the viewcones in place, mostly at densities far higher than you'll find in any suburban municipalities (however tall the towers might be in those municipalities).
It's fine to argue that the viewcones limit the height of towers, and so alter the way Downtown might look, but the 'we're in a housing crisis' case is unconvincing. So far viewcone policy hasn't impacted the overall delivery of units, (only limited the numbers of units provided on sites where height has reached the viewcone).
We're still many years from 'total buildout', and developers have bought, but not yet developed, many sites, and there are more to acquire. Concord have land for at least 12 more towers Downtown, and there are 12 more towers approved by other developers but not yet developed, including the Granville Loops sites.
I can also identify 22 more West End towers already approved or submitted, and six more acquired sites, and there's also Concord's St Paul's Hospital. In addition, much of the West End has been retained at its current densities to protect the older, less expensive, mostly rental stock of buildings - that could change if we ran out of locations where more housing could be built.