Development Cost Charges Concerns
By 250 News
Commercial Realtor Harry Backlin says if the City of Prince George brings in its development costs charges as proposed, a lot of developers will simply walk away from Prince George.
"In Area D" he said "the development cost charges could run as high as $70,000 dollars an acre." Backlin says for example, "The site where they wanted to put a container facility, the development cost charges are around $1 million dollars for a 200 acre parcel?"
Backlin adds "The developers know exactly what they want, 8 to 10 per cent on investment. If the development cost charges are too high they simply will go elsewhere. I get tired of Prince George being compared to Kelowna, Kamloops or Chilliwack."
Backlin says you can’t make any sort of comparison for development cost charges. "In PG you usually have 4 to 5 feet of Pine View clay where the industry wants to locate and it takes a ton of money to have that taken off. Just look at the cost for the extension of the runway." He says that’s because they will have to strip off a lot of clay in order to build an extended strip.
"Somebody has a crazy idea that we can just charge any developer the proposed development cost charges; well it won’t take long before the developers will head out of town" says Backlin "We have a lot of interest in Prince George right now but it wouldn’t take much to turn them off. "
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