Quote:
Originally Posted by whitev70r
Is this a good idea, you think? While on the one hand, multiple families can own a piece of this therefore cheaper on each family ...but the concern is driving up real estate prices even higher.
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In most cases, land prices will go up anytime you allow more density but the cost of the land per sq ft of housing built goes down as you can spread the costs over more sq feet.
What Vancouver gets really, really, really wrong with these plans is that they only allow it in small areas so that that area suddenly gets WAY more demand driving prices even higher. If this (or other types of increased density) was allowed everywhere you'd likely see minimal to moderate lift in land prices. A small number of people hit the jackpot cause the value of their homes suddenly double/triple (see Cambie corridor) while that land value increase is passed onto the people who buy the new builds built on those torn down homes.
I'm a little bit skeptical of this particular proposal as the details aren't clear but I'm 10000000000000% for any increase in density in SFH land. We should be doing a bulk rezone of the entire lower mainland so that there is no SFH-only zoning allowed and that there are incentives to build denser housing so developers prefer to build duplexes, triplexes, row homes, and townhouses. Locate them in residential areas so they blend into neighbourhoods.