Are there any provinces that allow 8 story wood-framed buildings? Was thinking that perhaps it's time for Alberta to approve those as a way to boost construction as Kensington is proof that 8 stories can fit well on a neighbourhood mainstreet as well as within the downtown core.
 
Albertasaurus said:
I think the big problem is most of the parking lots are owned by pension funds that have a very long-term outlook on things, and would be happy to sit on a chunk of land for 20 years to maximize long term shareholder value rather than take a more short term view of things.

But I fully agree that the tax system needs an overhaul to disincentivize this behaviour. not sure of the legalities of doing so, however.
Click to expand...
This answers your question Missing Middle.

I would suggest that the City look at significantly increasing the tax rate every time a parking lot goes in for a DP to remain a temporary parking lot. The longer they stay a parking lot the more burdensome the taxes should be until the carrying costs of the parking lot are terrible and the land turns over. We need housing in good locations right now so it should be considered a part of the affordable housing strategy imo.

We have got to stop long term land banking in the inner city and build housing now.
 
Alternative proposal - provide attractive temporary tax breaks to owners of vacant lots with TLUs that provide a temporary public good. Put time limits on the tax breaks (maybe 5 years) so landowners are still incentivized to develop. Property owners can put the tax savings towards planning for redevelopment. City could potentially even have a program similar to the office conversion program to cover portions of the costs of the TLUs (with parameters for what the temporary uses can be). Who wouldn’t want to have a city full of temporary parkettes, or pop-up outdoor markets (think shipping containers) instead of weed-filled vacant lots or parking lots?
 
You must log in or register to post here.

Back
Top