The City of Victoria’s proposed increases to development cost charges could hamstring the home-building industry and threaten housing targets over the long-term, according to development experts.
“The DCC rate increases are outrageously high,” said Casey Edge, executive director of the Victoria Residential Homebuilders’ Association. Whitcher said taken altogether the city and the Capital Regional District’s added costs could really “put a nail in the coffin of the industry.” Council seemed convinced the loss of 2,000 units made sense given the increase in revenue to cover infrastructure costs, with councillors saying the rates found the right balance. They also noted Victoria’s current rate structure boasts the lowest DCCs in the region.
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