Quote:
Originally Posted by Changing City
You're posting about the economics of building rental units in the Business Thread, which is a bit odd as there's a thread about Rental Housing.
You quote a series of unsourced and apparently very inflated numbers for permit fees and Development Cost Levies and Charges (assuming that's what DCEs are) - but those relate to condos, not rental units.
You then call for governments to reduce the cost of those fees. You seem to be unaware that if you're developining purpose-built rental units in the City of Vancouver (where nearly half of Metro Vancouver's rental stock already exists) you don't have to pay any DCLs or DCCs, and you don't have to build as much expensive underground parking. That's been true for many years.
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I don't want to get in a flame war so I will just quote facts and the link to them below. The city always gets its cut, and they are doing their best to get money from rentals now too, with some exceptions.
Along Broadway density is very restricted so if you want more than around 3 levels of rental expect to pay bigtime
Quote:
Prioritize affordable rental housing. Do not
consider additional development rights for
market strata residential.
DCE for rental projects seeking additional
density: maximize below market rental housing1
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https://vancouver.ca/files/cov/devel...y-planning.pdf
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