The wheels of real estate progress turn slower in some cities than others. realestate realestatenews Vancouver Calgary
The timelines stated are “commitments” and not legislative guarantees, but even estimated timeframes are often valuable to developers, as it provides clarity when it comes to financial proformas. Amorphous or unexpected timelines can result in delays, which raises the costs of delivering the project, and those elevated costs often then get passed on to end-users.
In Vancouver, no such timeline commitments have been made, although the City has shown interest in providing clearer timelines. Under the previous regime led by Kennedy Stewart, the Cityin June 2022 to examine the possibility of guaranteed timelines for building permits. While somewhat less focused on housing than some of his rivals during the October municipal election, Mayor Ken Sim’s platform did include a
, which aimed to approve permits for home renovations in three days, single-detached homes and townhouses in three weeks, mid-rise projects that don’t require rezoning in three months, and high-rises in one year., from the previous maximum of six storeys to 12 storeys, a motion that was introduced by Councillor Christine Boyle.
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