Comment 74214

By bigguy1231 (registered) | Posted February 11, 2012 at 15:29:29

I don't see how this agreement has done anything to enhance the value of that area. By limiting building sizes and forcing a developer to downsize what was a good developement, it will discourage any other potential large scale developers from building in that area.

The residents of the area are protecting the status quo. They don't want higher land values in the area because they won't be able to afford to live there. Putting limitations on what can or cannot be built limits the value of those lands.

The city should be looking at this from a taxation point of view. What is going to generate more in taxes, a 30 story condo or an 8 story condo. They should also be looking at much greater residential intensification because of it's close proximity to the downtown core.

This new plan will do nothing for that area. In 25 years that area will still look much the same as it does now because developers will not be told how they can spend their money. They will invest it somewhere else as has been the case for the last 30 years in this city.

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