Quote:
Originally Posted by SebC
So as I understand it, redevelopment was already paying its share, but will now do so under a different system. Greenfield goes from paying 50% of its share to paying 100% of its share, so it's a leveling of the playing field.
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On the news last night they had Battistella (spelling could be wrong here
) on the news talking about his development downtown, or inner city, and saying that he would pay roughly $2,000 and change for every unit there. That would be the same cost for the same project say down by 210th avenue or wherever though, right? That's my understanding.
Regardless though, this cost just passes on to the consumer. The number of issues it will cause in terms of sales is likely very small though because for a $500k property we're talking at just over 1% at the high end. I can't see many people getting too excited about $6,000 when you're looking at spending $500,000.