Something I cant figure out. If for profit developers are selling new housing for $400k, why does it cost not for profit (city housing hamilton) average $476K per unit excluding land costs??? @karl_andrus? @AndreaHorwath?
Something I cant figure out. If for profit developers are selling new housing for $400k, why does it cost not for profit (city housing hamilton) average $476K per unit excluding land costs??? @karl_andrus? @AndreaHorwath?
@SaundersWard10 @AndreaHorwath Part of the problem is scale we don't build not for profit towers in Hamilton, the second is accessibility requirements federal funding requires minium 20% ofbunits be accessible, third is the need for different housing types, 2 and 3 bedrooms for families.
@SaundersWard10 @AndreaHorwath There are some other challenges as well. But some builds do come in around those prices the 500k per door is an average ball park cost.
@karl_andrus @SaundersWard10 @AndreaHorwath I was wondering if any of these new units were building to fill AODA standards. Huge cost difference. And the ad says “the 400s” - my guess is that mean $489,000 with the lowest finishes possible.