[rhys17]

That doesn't change my point. And like PE said, application =/= launch or construction.

Perhaps, for the people not in the industry, an explanation is required as to why the process from application to launch takes "so long". The person you responded to, and certain politicians, seem to attribute it to "red tape", but I'm not sure bureaucracy is the reason for delays.

 

[ProjectEnd]

Regardless of how long entitlements take, or how much a certain government can reign that timeline in, there always will be an application, review, and approval period. That process determines how large the building is and how many suites it contains. Once you're through it you can launch, sell, and construct according to your own schedule. The disconnect here is that some posters seem to be saying that 'delays' are the fault of the municipality, when in reality, once a project is approved, no one can force anyone to launch. Here, Marlin Spring and RioCan did launch in December 2022, so to assume they can sell 70% of the project to get them to construction in 8 months, in an increasingly-uncertain rate environment, is hopeful at best. No developer is building themselves into poverty so constricting supply for a higher PSF is entirely real and not the 'fault' of an entitlement process of any length.

 

[HowarkRoark]

That doesn't change my point. And like PE said, application =/= launch or construction.

The point is it's been 5 years and not a shovel in the ground yet. Why is it taking so long?

 

[HowarkRoark]

Regardless of how long entitlements take, or how much a certain government can reign that timeline in, there always will be an application, review, and approval period. That process determines how large the building is and how many suites it contains. Once you're through it you can launch, sell, and construct according to your own schedule. The disconnect here is that some posters seem to be saying that 'delays' are the fault of the municipality, when in reality, once a project is approved, no one can force anyone to launch. Here, Marlin Spring and RioCan did launch in December 2022, so to assume they can sell 70% of the project to get them to construction in 8 months, in an increasingly-uncertain rate environment, is hopeful at best. No developer is building themselves into poverty so constricting supply for a higher PSF is entirely real and not the 'fault' of an entitlement process of any length.

Thank you. I'm not an urban planner and there isn't exactly a simple clear document that outlines what the process is.
So if I understand you correctly, this project has already been fully approved from a municipal standpoint, and it's really Marlin Spring and RioCan waiting until they sell a certain % of the units before they start development, would that be correct?

Still, they started advertising it last year so assuming it got apprvoed last year, it took 3-4 years to get approved. Life is short is this is a very long time. A child would have gone from baby to kindergarten in that time.

 

[ProjectEnd]

Hey @HowarkRoark - all good, the whole process can be pretty opaque and we're certainly all here to learn from each other!

Judging by this thread, it would appear that RioCan first applied for rezoning in May 2019 and to then launched in Dec 2022. I would say that isn't bad, all things considered. Right now, they are fully entitled and when they actually break ground is 100% up to them.

 

[HowarkRoark]

Thanks @ProjectEnd much appreciated. In listening to RioCan's recent conference call, they all but said that aside from their current projects already in construction (11YV, Windfieds in Ottawa, Verge, Queen/Ashbridge and of course The Well), and getting their big "Focus 5" projects through the approval processes, they're taking a very hard look at building right now because with inflation plus high interest rates, it doesn't make financial sense.

 

[Edward Skira]

 

[AlbertC]

From BAZ Group:

Marlin Spring Developments' Construction Progress Targeting 1,700 Units by Year-End - Baz Group of Companies

Unsurprising, 2024 Ontario housing starts is forecasted to slow even further this year. This will cause a shocking scarcity of delivered units in 2025 and 2026 which should create more value and security for units under construction which are scheduled to be delivered during that time period. To...

bazgroup.ca