Slashing development fees is not a cure-all for housing affordability: CMHC - BNN Bloomberg
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Heuristic (v1/v3)
-0.40 · CENTER
ML v2 (DistilBERT)
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Ensemble
-0.200 · CENTER LEFT
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Article Excerpt
OTTAWA — Slashing municipal development charges could help spur building in some of Canada’s most expensive markets but those cuts wouldn’t be enough to fix the affordability gap on their own, according to a new analysis from the federal housing agency.
Development charges are fees cities impose on developers that are mainly used to pay for infrastructure that supports new builds.
The federal government is spending billions of dollars to encourage municipalities to cut development fees in half to boost housing supply and improve affordability.
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