The municipal regulatory burden imposes direct costs on new home construction as well as indirect costs because it lengthens the time it takes to obtain regulatory approvals. The direct regulatory charges for a typical new residential dwelling alone can add up to $180,000 per dwelling in construction costs in places such as Markham, Ont.
The report found that despite municipal governments’ stated preference for high-density developments, they imposed more significant development charges and density bonuses on high-density construction relative to low-density construction. If municipal governments are serious about promoting the missing middle type of housing, they can make a difference by reducing the regulatory burden on the construction of such housing types.
Markham stands out for high development fees in absolute and per-square-foot terms. Construction costs for row housing in the city could be 34 per cent lower without government charges. Furthermore, Markham imposes 160 per cent higher development charges for low-rise rental construction than for single-detached housing.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: nationalpost - 🏆 10. / 80 Read more »
Source: GlobalNational - 🏆 81. / 51 Read more »