Quote:
Originally Posted by stampsx2
We need to build up our downtown but lower our taxes? Sounds like a one way street to me. East Village as far as I remember requires some sort of funding no?
I don't know how everybody expects to build up (condo's) when half the condo's in the city are partially vacant. If the demand is not there then you can't build up. The demand for houses is there. The house inventory is shrinking. So you have to build out.
The only argument against that is infill's but that's not building up.
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There is a temporary oversupply of multi-family units, but the long term trend has shown that the proportion of multi-family homes built compared to single-family homes is rising. Changing demographics such as an aging population, fewer married couples and fewer children, housing affordability as well as increasing commute times as the city grows are all factors that will drive demand in the long term. There is need to plan effectively for both. To facilitate growth in the centre- and inner-city investment is needed and should be encouraged for many reasons.