The Marigold Lands development's first condominium residence is a five-storey building situated along the 7800-block of Lochside Drive in Central Saanich on Victoria's Saanich Peninsula.
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Why does every single development need to 'address affordable housing'?
...because it's the #1 issue in our area? I'm not sure what you're trying to say here; what kind of development would you prefer?
Mike hits the nail on the head though. The best way to address affordable housing is to remove barriers to adding supply. Forcing developers to cut into their bottom line with direct measures doesn't help in the long run.
I don't have an issue with 5% affordable housing which I believe this site is doing, and this is actually becoming a standard %. My understanding is it would be unusual to increase it beyond this amount. At some point you have to cut the subsidy/guiding hand off because if you increase it to 20% the cost of the other 80% is just going to go up even more, so did we actually help or hinder affordability?
The developer is selling over 2.3-acres of this project's undeveloped land.
The initial phases, a condo and some townhomes, are taking quite a while to sell (condos are 80% sold) with sales having started in 2017, I believe. We sometimes see difficulty arise when a builder/industry firm jumps into the development side of the equation. It's a lot different to build something for someone than to be responsible for selling sell out a residential project.