Goodman Report gives Burnaby an F for its refusal to follow legislation, saying developers are concerned about housing projects in Burnaby.
The City of Burnaby’s protest against new provincial housing legislation may have temporarily satisfied some homeowners, but those in the commercial real estate industry say it adds up to a failing grade.
Now commercial real estate company Goodman Commercial Inc. has given Burnaby an F for its refusal to participate in the provincial plan.The report notes Burnaby had no problem with approving two of the province’s other major housing changes, allowing multiplexes on formerly single-family lots and adding new development financing charges.
“Every new apartment built in Burnaby is on the hook for $39,000 ,” which the report says is “up catastrophically” from the $2,500 developers previously paid for a standard 700 square-foot apartment.
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