Even With Incentives, Brownfields Are A Tough Sell

A Canadian brownfield development wins awards, but developer says: "I wouldn't do it again."

1 minute read

November 1, 2003, 5:00 AM PST

"The city waived the usual 5-per-cent parkland dedication, a $1,000 per unit building permit fee and development charge of $3,250 per unit. The Region of Waterloo waived development charges of $3,184 per unit. 'It adds up to hundreds of thousands of dollars, but nowhere close to more than $1.2-million dollars it took to clean up the site,' he says... Might his example inspire others? 'It could, but it won't inspire me,' he replied dryly. 'We didn't make any money on this project, even with the incentives available to us. We won't do it again.' "

Thanks to ArchNewsNow

FULL STORY: Brownfield builder gets plaudits but no profit

Friday, October 24, 2003 in The Globe and Mail

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