Delay comes at a cost
Re: Steel-and-glass condo could go on derelict site — Sept. 9
I am saddened to read that members of Kitchener’s heritage committee, upon seeing a redone proposal for 51 David St., seem disappointed with the brick colour. Many may not remember the original plans — 12 storeys and 80 units, nestled between buildings of eight, 14, and even more floors — but today I think of the consequences of delaying and denying multi-unit proposals. By cutting 50 per cent of the height and 62 per cent of the units, we have made this building less of a fit in this neighbourhood. Previous stories reported on how some residents thought a 15-month delay in demolishing the derelict housing that was on the site was too long, yet they’ve now delayed this kneecapped proposal by 60 months at least, with drastic lasting consequences.
Studies done by cities such as Seattle found that a month’s delay increased the cost of a unit by $2,000, while a 2015 study by Austin, Texas, found that it increased rent by 1.14 per cent. So in making this proposal less fitting for its neighbourhood, less able to help people like myself and others move out of lower-end housing stock (a chain reaction that opens doors for those in our region most in need of housing options), people are treated to condos costing $120,000 more than before, including inflation and market appreciation, or rentals that are much pricier.
Andrew Dodds Kitchener