Gellersworldtravel.blogspot.com Website Review

so why are developers so keen to build unaffordable condos along the broadway corridor? i hope this helps explain why. wrote a column in the tyee. a media outlet i admire. he writes about a book by john gray, a local writer i also admire. in his column, patrick criticizes the expensive condos that are going to be built along the broadway corridor. why does new housing so often cost $1200 psf. or more?  let's an*lyze what it costs to build a condominium. what do you think is the current construction cost for a new concrete building meeting vancouver's building code? (yes, vancouver has its own building code which makes it more expensive to build here than say burnaby or richmond). based on my recent experience, it costs more than $400 a foot for a fairly standard product. rental or condo. the estimated cost for a 6-storey concrete building on the west side of vancouver with which i am familiar is closer to $500 psf. now, what do you think the 'soft costs' are? these include consultant fees (on most projects there will be 15 different consultants), permits, dcls, metro dcls, other municipal fees, taxes, homeowner protection office fees, legal, insurance, development management. guess! did you say 10% of the construction costs? you're low. now let's talk marketing. the bank requires most developers to pre-sell at least 50% of the value of the project. in addition to sales commissions (3-4%), marketing costs are usually another 2-5% depending on size, location, etc. now there's financing. in addition to interest costs, how much do you think you must pay mortgage brokers and lenders to arrange a $50 million loan? $100,000? $250,000? $350,000? guess again. now you must remember that although you buy land and pay construction and soft costs to build 100,000 sq ft, you can probably only sell 85,000 sq. ft. why, you can't sell the corridors, stairwells, meanwhile, we haven't even considered land cost or municipal community amenity contributions. on june 20, 2018, council approved new broadway