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Originally Posted by awvan
Are construction costs/prices publicly available for these projects? I am interested to see how badly the taxpayers are getting ripped off. Hotel Pennsylvania and the Olympic Village didn't get things off to a good start.
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The 525 Abbott project has a stated budget of $28.4MM. $20.8MM from the Province and $7.6MM from the City for land and construction related to the retail component.
So it looks like the residential is the $20.8MM component, and there are 108 units (to be used for homeless women from DTES). Assuming it is on budget, average works out to $192,592 per unit. That seems to come in at the approx $200M cost per unit outside of land acquisition that I thought you stated yesterday could be done by private sector, but maybe that post is gone or I am imagining things.
Just my own opinion, but I think that is fair value for much needed housing.
http://www.bchousing.ca/programs/hom...1?pageNumber=3
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The Province is investing $20.8 million in capital infrastructure funding for this development, which integrates housing with support services to help women move beyond temporary shelter to stable housing and appropriate employment.
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