VANCOUVER (NEWS 1130) – A prominent Lower Mainland developer is speaking out in favour of new legislation that would TransLink the power to charge developers a one-time construction fee, calling it the “right way to fund transit”.
The proposed legislation would give the people in charge of Metro Vancouver’s transit services the power to charge development fees on new projects.
Jason Turcotte with Cressey Developments says he’s pleased the people in charge of transit services will be able to reduce or eliminate development cost charges for builders of affordable rental housing.
“All the municipalities need to take a look at their fee structures and find ways to reduce those costs, have things like these fees directly fund projects like transit expansions, figure out ways to reduce the overall burden on new housing so we can start to bring the cost of these things a little more in line.”
He considers the move a positive change.
“If new development is going to continue to become available as a result of transit expansion, then new development should help fund it. I really think the two things go hand in hand so it makes sense that you have a direct correlation.”
Turcotte says he also supports Translink imposing a DCC of at least $1,500 per new home saying that’s a small amount considering what most developers already pay municipalities.