It is mind-boggling.Hey all, I'm a first time home buyer (harbourwalk) and a little panicked about this. Looking for some opinions/insights on what the implications might be.
Presumably, increasing supply will lower the overall value of condo units in this development no?
In the MZO they say they also want reduced landscape requirements, and reduced building amenity requirements. So presumably they want to either shrink or get rid of the central park that runs throughout the development?
I guess part of what I'm trying to understand is how drastically the 'master plan' might change with this MZO. Is it feasible to expect that the renderings are now completely unrepresentative of what this community will look like, or is it more likely that the scale of features like parks, waterways etc will just shrink but generally retain the same vision?
It's kind of mind boggling to me that this 10 year + community driven initiative can just be steamrolled by the province like this without any consideration from the city or its residents. And they pushed it through on a Friday afternoon right before the city was scheduled to discuss it.
Appreciate any thoughts and comments.
I suspect that they will still create a livable neighbourhood, as they still have to sell units, so not everything will go to shit here, like the planning process in Ontario just did. Your investment should not take a hit, unless they build a unit 5 metres outside your windows and that's all you have to stare at (unlikely I suppose) as demand for housing is big enough that doubling the supply at this one site won't make a major dent in it. Here's hoping they get access issues solved here, whether it's a new GO station and/or or some other capacity improvements. It will take a long time to reach the capacity problem though, so only time will tell... ...the bigger problem is what just happened to the system, not so much this one site on its own.
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