It's going to cost 25% more for developers to purchase property in Windsor, as of June.
City council reviewed its development charges bylaw Monday night, after a presentation from Hemson Consulting and listening to input from local realtors and developers.
Councillor Rino Bortolin thinks the increase is financially prudent, and he doesn't believe it hinders the growth of the city. "We have a huge amount of housing stock. When I walked through neighbourhoods, knocking on doors last summer, every third house was empty," says the councillor. "The population today is the same as it was 40 years ago, yet we have 30% or 40% more homes, infrastructure, roads and sewers to pay for."
Bortolin adds the city is offering up to 75% off on development charges in specific areas like downtown, in order to encourage construction.
Under Windsor's current plan, rates on a single-detached home are going up to more than $20,000, and could hit $26,000 in the next four years if the city grows 350 homes per year, as projected by Hemson Consulting.
