05-13-2022, 11:22 AM
They can only negotiate affordable housing contributions (whether cash or actual affordable units) when the developer asks for bonusing. And what we are getting is pretty limited.
I think a better option would be to include an affordable housing charge as part of the development charges. Setting it at even $500 for apartments, $750 for townhouses and $1000 for single-family homes (about 5% of current regional development charges, which are roughly half of the total) would generate roughly $50M/year regionally for affordable housing. And it's really not a significant cost increase for a new home.
I don't see why only condo developers should contribute, it should be the same for the developers creating new subdivisions?
I think a better option would be to include an affordable housing charge as part of the development charges. Setting it at even $500 for apartments, $750 for townhouses and $1000 for single-family homes (about 5% of current regional development charges, which are roughly half of the total) would generate roughly $50M/year regionally for affordable housing. And it's really not a significant cost increase for a new home.
I don't see why only condo developers should contribute, it should be the same for the developers creating new subdivisions?