Quote:
Originally Posted by CaptainYooh
Again, not to belabour this particular point, but many other new condo buildings in the Beltline survived the crash and sold out. Keynote was selling above Arriva's price levels and did very well. All Cove Properties, Procura and Qualex-Landmark condos sold well too and they did not contribute much to infrastructure upgrade costs to my knowledge despite adding thousands of new residents to the inner-city. Torode got into all sorts of financial trouble with Arriva, because his costs went way above what his condos could sell for. Infrastructure upgrade contributions (sewer and 4 St interchange) were a big part of it.
|
Beltline development pays a levy calculated on street frontage for necessary community infrastructure upgrades. There's also a density bonusing system, including cash components for off-site infrastructure improvements through the Beltline Community Investment Fund.