03-14-2024, 04:02 PM
(09-27-2023, 09:34 PM)ZEBuilder Wrote: It was not Vive that all of a sudden asked for an additional 10 floors, city council actually approached Vive and asked for the extra density. At the Planning and Strategic Initiatives meeting last week councillor Davey asked Vive if they would look at increasing the density in turn for some form of community benefit (legally Vive has no obligation to do so because of changes to the planning act), this motion was seconded by councillor Singh or Schnider (I don't remember off the top of my head). All 3 of them were referring to the massive housing crisis and the need for more units as well as the fact that there is really only 1 time to make the ask, Schnider in particular said something along the lines of he doesn't want to regret not asking for more density 10 years down to the road. Since the planning act has been changed because of the Ford government the city can no longer require developers to include community benefits as part of an application so the 32 units that Vive is making affordable are purely good faith on Litts part. Yes the additional units are going to result in more profit for him (council did recognize this) but the city is also gaining 32 affordable units within the new building, while gaining additional supply overall.
Just to expand on this:
Quote:A 27 storey tower with a 5 storey podium with 285 dwelling units and 171 parking spaces. In accordance with Council's decision on the OPA/ZBA the Owner is required to provide 40% energy savings over building code (heating of the building primarily through air source heat pumps) 32 units will be affordable for a 20 year period (affordable is defined as per CMHC) and two adaptable units and 2 accessible universal design units in addition to the minimum requirements under the Ontario Building Code.