[kcantor]

What about a post-construction tax rebate for the time the land was left vacant? As in, a site like Regency's on 101st continues to be taxes at estimated assessed levels had the building been there, but that money is placed in an interest bearing trust so that when the next project is completed, the developer gets a substantial rebate back with interest based off the difference between a bare land and developed tax.

It would add a bit of certainty for honest developers who are facing hold-ups on dependencies and whatnot.

You’re overcomplicating something that should be simple which will create less certainty at the end of the day, not more.

Who gets the “refund” if the site has sold two or three or four times since the city started collecting? Who tracks and reports on the money and how often?

If the money has to get refunded (in my proposal the money gets paid to the city and the city keeps it just as it keeps all other revenue including property taxes) the city can’t use it (and the city needs it) as they would only be holding it on an interim basis until they refunded it.

 

[devobersver]

What about a post-construction tax rebate for the time the land was left vacant? As in, a site like Regency's on 101st continues to be taxes at estimated assessed levels had the building been there, but that money is placed in an interest bearing trust so that when the next project is completed, the developer gets a substantial rebate back with interest based off the difference between a bare land and developed tax.

It would add a bit of certainty for honest developers who are facing hold-ups on dependencies and whatnot.

Would this work as desired? Knowing they are getting the money back might not provide the encouragement that is required. Sure it impacts cash-flow, however; they are still benefiting from others investing in the area which makes their vacant lot worth more. Personally I think putting it all in a fund to accelerate those investing in the area and meeting quality design standards more valuable. A portion could also be allocated to accelerate public infrastructure renewal. For Downtown this can help tackle some of the other reasons people don't want to go.

 

[Out of Towner]

What about a post-construction tax rebate for the time the land was left vacant? As in, a site like Regency's on 101st continues to be taxes at estimated assessed levels had the building been there, but that money is placed in an interest bearing trust so that when the next project is completed, the developer gets a substantial rebate back with interest based off the difference between a bare land and developed tax.

It would add a bit of certainty for honest developers who are facing hold-ups on dependencies and whatnot.

An interest bearing trust might have the opposite effect of its intended goal. Instead of encouraging a project to proceed, a developer might delay a project on the grounds that they're receiving interest compensation for not doing anything. So for a developer with projects in different jurisdictions, the one with the least carrying cost could be the last one to be developed.

 

[David A]

An interest bearing trust might have the opposite effect of its intended goal. Instead of encouraging a project to proceed, a developer might delay a project on the grounds that they're receiving interest compensation for not doing anything. So for a developer with projects in different jurisdictions, the one with the least carrying cost could be the last one to be developed.

Agreed we want the incentive to be to build sooner, not build up a fund for the property owners. Again, the less complicated solution is best.

 

[yeggator]

Heard from someone in the know that the original tower proposal is being submitted for a DP tomorrow.

 

[Dubas]

Heard from someone in the know that the original tower proposal is being submitted for a DP tomorrow.

Heard the same, except they actually plan on making it even taller.

 

[bodsbods9090]

What a nice first day of April we're having today...

 

[degrandprix]

Heard the same, except they actually plan on making it even taller.

Updated render, it's now twin towers

 

[ADob]

Maybe we could incorporate the old Harbin gate into the design!

 

[bodsbods9090]

It's a thing of beauty!

 

[johnnyboy]

I know it's fake - I can see only two cladding colours and no LED lighting strips!

 

[Gronk!]

When will The Edmontonian proposal be submitted for a DP?

 

[David A]

Maybe we could incorporate the old Harbin gate into the design!

Maybe we need another Dream sign in front of the building too.

 

[Platinum107]

Heard the same, except they actually plan on making it even taller.

Inshallah Edmonton will get the first supertall tower outside of Toronto

 

[SarcasticMarmot]

Inshallah Edmonton will get the first supertall tower outside of Toronto

They've gotta get moving then!
www.dezeen.com/2026/03/27/henriquez-partners-vancouver-supertall-skyscraper-sea-sponge/amp/