Home builders plead for relief as costs soar
Not so long ago, developers were transforming old shopping malls into master-planned communities in suburbs such as Burnaby, B.C. and Coquitlam, B.C. Those days are over, says a prominent developer.
“There have been tons of shopping malls redeveloped in this market. Those are worth more to stay as shopping malls than they are to be redeveloped under the new, provincial [transit-oriented development] policy,” says Brad Jones, senior vice-president of development for Wesgroup Properties, and an urban planner.
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