Developer fees could add more than $100,000 to price of new homes, CMHC finds
Charges that municipalities impose on homebuilders are worsening Canada’s housing affordability, and could be costing some homeowners more than $100,000 for new units located in cities with the highest fees, according to new data from the Canada Mortgage and Housing Corp.
It’s the first time the national housing agency has measured and identified the average cost of development charges in 30 municipalities in Ontario, British Columbia, Alberta and Quebec. The report found the charges that cities impose vary widely across the country.
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