Quote:
Originally Posted by GullFoss
Sure, but r-cg is now open to developers. And it wasn't a week ago. If I was a developer, I'd look to do r-cg on this lot now, for example. Pretty cheap land.
https://realtor.ca/real-estate/25814...alsharelisting
Was involved with a similar sale a few months ago in Elboya to a developer that seemingly overpaid for some reason. I think I now know the reason
I think people who say it won't happen in elbow park and elboya and other similar neighborhoods will be surprised at how good developers are at finding undervalued lots.
Upper Mount Royal and Brittania would be ideal candidates for r-cg if not for the protective covenants. Some of the land is pretty cheap on a psf basis relative to higher density communities. |
Well, r-cg always was kind of available. According to the mayor, 95% of zoning change applications are approved.In my neighbourhood several r-cg were rezoned to d-c over the objections of the neighbours and community association. This will make it easier though for sure, though I imagine much of the focus will be on places like Altadore where they can carve up a lot and still charge premium prices.
As an aside, I found the mayor's rationale pretty circular. "We (the developer-friendly council) approve almost all applications that come our way no matter what the community input is, so we might as well blanket approve all of them." I wonder how this will affect their future donations from developers?