The Fraser Institute released a new report today indicating both developers and home builders have more difficulty building in the North Shore area due various factors such as: regulation costs, approval times and rezoning prevalence.
The district of North Vancouver has the highest regulatory compliance costs at $40,000, compared to the lowest costs at $14,357 in Abbotsford. The study shows this is a direct result of less affordable housing, capital gains and increasing property taxes.
Approvals in West Vancouver take the longest, averaging at 17.7 months, while North Vancouver is at 16.1 months and the shortest waiting time is in Pitt Meadows at 5 weeks.
The report goes on to conclude that there is no evidence for higher infrastructure costs of accommodating low density growth. 43 developers and home builders responded to the Fraser Institute survey that was conducted in Fall 2014.