You won't be hearing hammers any time soon from the Hesperia development in Vernon's Okanagan Landing neighbourhood. Hesperia President, Ken Stewart says the board has decided that because there is no strong demand or limited supply of housing, so they won't proceed with the development at this time. Stewart says there's no need to invest heavily in infrastructure at may be under utilized for the next few years. He expects the site will be built out over the next 15 to 20 years
6 comments:
Look for the City to sell this pre-zoned piece of land to a developer in about 5 years time.
Affordable housing?
Yeah, right.
Finally, a show of common sense.
And so what if the City decides to sell the property (after getting it out of the ALR - so much for protection of agricultural lands as outlined under our OCP!)... we'd still be better off inviting a developer to take the risk, instead of us taxpayers!
Silly rabbit. Time for a reality check.
The concept of affordable market housing is an oxymoron.
Without substantial subsidies from some level of government, they just don't work.
Also, speaking locally, there's not a single developer who will touch this project with a ten foot pole, if the City places the kind of restrictions necessary to ensure that there is a healthy percentage of affordable housing provided in the development. So if the City does not build it at a loss, who will?
No, the land will be sold and yet another high-end development will be constructed and sold as part-time homes to rich albertans. (sigh)
And how much money has been spent on Salaries for this Rocket Science bunch of directors.
Was the land actually rezoned or not?
According to the frontpage of the MorningStar, 3rd reading was given (but not adoption?) DQ, could you please verify?
Re Anonymous... you're right it may be an oxymoron, but in this case it was never about "affordable", but "attainable" housing. There is no need for government subsidies to "attain" a home in today's market.
Hesperia was not aiming for affordability - except for those families earning $80-100K (!).
Answer to the rezoning procedural question?
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