UNBUILT HIGH-RISE UNITS IN SERVICED AREAS.
Most agree that building up versus sprawling out is the preferred approach. And yet despite having been approved by council there exists an abundance of unbuilt high rise residential units.
We need to understand and demand answers as to why the COMING SOON signs at many of these sites are aged enough to become faded or have been there long enough for the underbrush to have grown to the point of covering them.
Getting these dormant sites underway is critical. Many of these developments can go from ground-breaking to occupancy in 18 months or less.
The domino effect of these unbuilt units includes having a negative impact on affordability, they reduce living accommodation choices for residents, they result in pressure to build high rise units in residential zones that were never approved for these types of buildings in our city’s official plan. Not to mention that they add an unsightly element to our city's downtown core.
It is no surprise to anyone that an extremely high percentage of new multi residential high-rise construction never start on time.
Many parameters result in delays, lack of sales, inadequate financing, project management, coordination with sub trades, city review & approval process and legal issues to name a few.
Knowing in advance what delay drivers exists means that council needs to address these elements pre their approval, not post.
I understand that once approved council is no longer in control, however, that does not mitigate our responsibility as a council to be in the know.
As mayor I would want answers to come before council on questions such as, what are the reasons these unbuilt units are dormant? What can we do to assist in moving them forward? How do we prevent delays from occurring on future builds?
With housing prices increasing at an accelerated rate, we know that speed to market matters, we need to be faster