Quote:
Originally Posted by Changing City
As GenWhy said - they're not backing out of the Rental 100 Program. They can opt to provide lower rents in exchange for not paying a DCL, or not. They changed their mind, and gone with 'not'. So they'll pay $1.8m more to the City, and hope to find renters who will pay more than the earlier agreed rents.
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Yes I understand that I meant there backing out of the DCL Waiver. And the point stands that its a bad sign. It means market rents are much higher than the rents the city is requiring which means more developers may back out and likely implies that rents in Vancouver are rising faster than planned.
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