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Originally Posted by kyle_olsen
Value as in, I think it would be pretty easy to price things at what would effectively be a subsidized price if the city was concerned about affordability and supply. (or was in the pockets of developers!)
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Hmmm.....are you saying the City of Saskatoon currently does not have the ability to subsidize the price of periphery lots (thereby making them affordable) and an alternative method of private developers playing a more active role in land distribution/development would provide more affordable lots for home buyers?
From your initial thought of
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Which leads me to wonder: is Saskatoon getting all the value it could out of new periphery development? (if Saskatoon continues on that path of course)
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With the above, I am thinking you are suggesting Saskatoon (and it's citizens) could get more value (e.g. extra dollars for the taxpayer? for the city? for the developer? for the home buyer?) if private developers controlled more of the development process, is this what you are suggesting?
Quote:
Originally Posted by kyle_olsen
When its private, your assured that all local servicing, and road costs (their might be some cost savings to be had with subcontracting, only if there are cheaper sources of labor over city employees...in fact I think some road/servicing work is contracted out) are passed onto the buyers in the end, in addition to the land costs. The city also doesn't end up taking risks that lots won't be bought (not a major risk now, but historically it was).
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Yeah, agreed. However, under current conditions the city can set the price for any piece of land in any part of the city to reflect the costs of servicing, road building, etc. For some reason, I feel more secure knowing the city has greater control over the market...perhaps that is based on misunderstanding.
I suppose the fundamental difference between private and public development of land is who profits from what and by what method(s) do either obtain their respective profits (manipulation of the market is another element).
There is so much to think about with each respective system, I'll have to sleep on it and give it more thought.
Quote:
Originally Posted by kyle_olsen
If you make developers responsible for the entire communities, there is incentive for them to provide higher value amenities to residents.
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Higher value amenities? Like golf courses, retail, parks and such, all the new periphery communities include those higher value amenities, or are you referring to something completely different?
Are there some amenities the city can't or won't provide? Maybe, depending on whether or not they meet standards set by various planning policies and bylaws.
Quote:
Originally Posted by kyle_olsen
You can manage sprawl without the land bank or whatever you call it. You just don't give building permits for what you don't want, when it doesn't conform to wider policy.
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In this market, owning land gives the city great ability to price and profit from new development (keep taxes down?), determine distribution of land (who does or doesn't get land), pace of development (slow, moderate, fast).
But you are right, in some ways denying building permits can be just as effective.