Quote:
Originally Posted by Changing City
So you don't understand how CACs work in Vancouver? Nobody is making the developer build more than the zoning allows, it's their choice to build more, and when they bought the site they calculated how much in CAC they could offer the City to be allowed to build a 14+ FSR tower, based on how much they'll charge for the condos. If they didn't pay the CAC, the condos wouldn't cost less, and the rents wouldn't be any lower - but the developers would be $36m richer, (and the West End wouldn't get a new library, for example).
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The developers would just save the large projects to be built in the suburb municipalities, as is evidently the case, and only build the much smaller and cheaper woodframes in Vancouver, with each unit costing even more than the nicer concrete building suites in other municipalities.
In the meantime, and again as evidently is the case, the City of Vancouver is still unable to afford building any new facilities for any of the neighbourhoods in Vancouver including downtown, while the more forward-looking suburb municipalities are building all the swanky recreational and community centres.
As a matter of fact, the City of Vancouver needs all the tax hikes to cover its basic services, which are subpar at best.