48
submitted 10 months ago by RehRomano@lemmy.ca to c/canada@lemmy.ca
you are viewing a single comment's thread
view the rest of the comments
[-] SamuelRJankis@lemmy.world 7 points 10 months ago

For anyone who just wants a summary.

While many places in North America has upzoned single family home areas. There's still many hurdles that don't make it enticing to build these higher density developments.

The examples given were:

  • (California) Limited max useable sqft. Would result in something like 2000 sqft max on the plot of land which would mean only 500 sqft units if there's 4 units.

  • (Vancouver) In some circumstances it can cost a extra 70k in fees per unit built. 280k extra for the aforementioned 4 units.

  • (Coquitlam) Requiring 2 or more parking spots per unit. Be 8-9 spots for the 4 units.

He estimates with all these limitations developers would need to sell those 500 sqft units for 1 million dollars for it to be viable. A notable point is that for developers to even get a loan from banks for housing projects they need to demonstrate they can have a 15-20% profit margin.

The video like most of Utae's is pretty short and to the point. Well worth the 10 minutes watch.

this post was submitted on 23 Nov 2023
48 points (94.4% liked)

Canada

7133 readers
453 users here now

What's going on Canada?



Communities


๐Ÿ Meta


๐Ÿ—บ๏ธ Provinces / Territories


๐Ÿ™๏ธ Cities / Regions


๐Ÿ’ SportsHockey

Football (NFL)

  • List of All Teams: unknown

Football (CFL)

  • List of All Teams: unknown

Baseball

Basketball

Soccer


๐Ÿ’ป Universities


๐Ÿ’ต Finance / Shopping


๐Ÿ—ฃ๏ธ Politics


๐Ÿ Social & Culture


Rules

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:

https://lemmy.ca


founded 3 years ago
MODERATORS