Strata | 16 & 22 fl | Proposed

[taylortbb]

And, no, paying an extra 3% on a high-end condo is not going to seriously impact that condo's affordability.

I don't think there's anything high end about most of these units. They're marketed as high end, but only a few penthouse units are actually high end.

For a lot of first time buyers, a condo is the new starter home. They're not the group we should be pushing additional costs on. In current market dynamics, any increase in costs to developers will just be passed on to buyers. Leaving those who already have wealth (existing homeowners) unaffected by the costs of affordable housing will worsen inequality.

It should be done through taxation, where we can apply it fairly based on income. Or revise property taxes to be a graduated system.