Ep. 531: Real Estate Development Permit Crisis
Guest: Anne McMullin, Urban Development Institute
“Development permits in Metro Vancouver have dropped nearly 12 percent compared to the first half of the year as developers face an unaffordability crisis,” says Anne McMullin, the President and CEO of the Urban Development Institute.
It’s a startling fact in light of the housing crunch the region is experiencing.
McMullin goes on to say, “The housing crisis cannot be solved unless building costs come down.” It’s a statement pointed at a variety of levels of government that have the ability to change the equation to reduce financial risk and ensure appropriate returns on investment can be realized. ”Without those changes, homes won’t be built,” adds McMullin.
The response from Metro Vancouver’s mayor’s committee was lukewarm. UDI has publicly urged the BC government to take three critical steps that McMullin says will make a difference, to “implement grandfather provisions on development charges, defer development charges payment until occupancy and adopt a municipal services corporation model.”
We invited Anne McMullin, the President and CEO of the Urban Development Institute, to join us for a Conversation That Matters about how to encourage builders to build.
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Check out their profile on our partnered program, Careers That Matter!
