Posted 03 November 2022 - 03:07 PM
We are not necessarily going to be privy to what kind of TAP agreement the tenants will agree to individually, so it’s maybe not correct to assume rents will double if they choose to stay.
Regardless, it would be inappropriate to suggest modern housing, with modern life safety systems and conveniences, is only permitted in these scenarios if you are living in government housing. The government has to make it all financially function, too, and they do so by adding more density when they redevelop, sometimes significantly more density. And that housing isn’t necessarily all cheap or affordable. A lot of the newest projects have a combo of market, slightly below market, below market and government assisted rate units.
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.