09-19-2022, 10:10 AM
(09-19-2022, 09:56 AM)tomh009 Wrote:(09-19-2022, 03:22 AM)danbrotherston Wrote: The thing is, if developers wanted this, Ford would do it. But developers don't want it.
The thing that allowing smaller scale developments does is lowers the barrier of entry to being a developer. If I have to be able to raise 100MM to build a 20 storey tower, there's only a few competitors, if I only have to raise 5MM to build a small scale 3 storey building, pretty much any homeowner (with no mortgage) in the city could do that.
So, developers (the ones that are developing buildings today) don't want this...because it would cause them more competition.
Or at least that's my speculation, given that Ford would pretty much do anything developers ask for.
I think you are specifically saying that condo developers don't want it. Because suburban/subdivision would actually gain flexibility from this.
I'm also not sure that three- and four-storey buildings would provide real and substantial competition for high-rise condo buildings, but it's certainly possible that those developers fear that they would.
I agree that the argument is clearer for condo developers.
But I don't think greenfield developers would support it...they might be indifferent to it. Yes, it could provide them flexibility, but...flexibility to do what? They're doing greenfield developments, they're happy to keep doing the things they've always been doing.
But in both cases, they also recognize that restricting housing pushes up prices which I believe benefits them as well.