By Pepper Parr
March 25th, 2024
BURLINGTON, ON
Few people understand what a Development Charges is – they should – they substantially to the cost of buying a new home
The table sets out what the consultants predict population and the residential units will be for specific time periods.
Development charges are expenses developers have to pay the city to cover the cost of infrastructure needed to build new homes.
The city is embarking on determining what those development charges are going to be going forward.
This article s not going to be a deep dive into how these charges get determined other than to say they are based on data collected and then argued about
The City recently released a 405 page document that we will work our way through.
At this point we can share with you a statement in the report.
The calculated increase in the charge for this type of development is $61.38/sq.m, or an increase in the charge of approximately 59%.
That is a whopping number that will work its way to the cost of a housing unit.
