Quote:
Originally Posted by GGG
Lowering development cost is a trickle down theory. At some point these cost do provide real obstacles to new development but also at some point lowering them more doesn’t change the amount of entrants it’s just increases profit.
So before implementing the mistakes we are seeing from the pre-bylaw rules which we are currently actively dealing with we should have evidence this would actually lower pricing. I’m not confident it would.
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I wasn't thinking about costs. I was solely thinking about what potential buyers will be willing to buy. You can target specific groups when remove the parking minimums, but that doesn't stop someone from still providing them. If you build a new condo building downtown but all the units are 400 sq ft studios and minimal parking, you're only aiming for a specific group. If you're converting SFH to Multi-family in the suburbs, is someone going to buy (or rent) if the parking situation is atrocious? You could drive potential customers away. Like was mentioned elsewhere in this thread, many developers would probably add a parking pad on their own volition to entice people.