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The federal government abruptly postponed an announcement Tuesday for tens of millions of dollars in housing funding for two Metro Vancouver cities, due to concerns about new development fees being proposed by the regional district.
The pause came in response to potential infrastructure surcharges for new builds in Metro Vancouver that could add tens of thousands of dollars to the cost of residential builds.
BC real estate: Burnaby, BC, councillors rejected a plan that would increase the amount of strata condos built in exchange for non-market rentals.
Governments could build thousands of units a year without adding debt by following this formula.