City of Waterloo Taking a Different Route
By Lucas on Dec 12, 2012
In recent months, the topic of development charges has been causing some concern for us and our readers. In Toronto, we continue to pay high levies for our units, and the surrounding infrastructure still struggles to keep up.
Peel Region has recently doubled its development charges, in hopes of paying for improvements in light transit, as well as funding infrastructure deficits. It doesn’t make much sense for only new home developers and builders to pay for infrastructure improvements that everyone will use, but that’s just our opinion.
One area that is taking a different route is the City of Waterloo, who, wait for it, are actually looking to lower their development fees in the coming year. Yup, you heard it here first!
So, what is the rationale? Well, in order to jumpstart the economy and get developers to look at Waterloo as an area that is ready for intensification, it needs to be affordable to build there. While other cities in Ontario continue to nickel and dime developers (which results in higher prices for purchasers), Waterloo is doing the opposite in hopes of attracting some big time developers.
Apparently, the City of Waterloo believes that high-rise developments will lead to fewer roads and less traffic. It’s an interesting theory. If there are fewer single family homes, then there are less cars, and they won’t have to spend money on new infrastructure, like roads, to support the new communities.
It’s refreshing to see regions like Waterloo lowering development charges, rather than raising them, to save money.
“It’s going to be a challenge for us to let go or at least loosen up on our typical view of suburban life,” Coun. Karen Scian said to the Waterloo Record.
What are your thoughts on Waterloo’s plan? Is this something that you would like your municipality to consider? Comment below.
