I am curious what a development - such as the one in the initial works for 349/351 Kipling and 1400 Fairfield (8 townhomes between Fairfield and Thurlow- about 10 feet higher than current zoning) would do to property values in the neighbourhood especially those that are right beside it? Is there compensation or possible concessions one can get from the developer?
The draft Fairfield Area Plan supports three-storey townhouses up to 0.85 FAR (ex. 12.0 m tall) on Fairfield Road and on corner sites. Expect property values to go up once the Area Plan is adopted, as development potential does play in to property assessments.
If this application were coming forward in Richmond, the City would be getting a community amenity contribution (built in to our Zoning Bylaw, so there's no negotiating that), and negotiating frontage improvements (rebuild sidewalk and grass boulevard, new street trees as required, new curb as required, etc.). Direct payment to neighbours rarely occur, and usually only if civil lawsuits are involved (in my own experience).