In a bid to bring development to the heart of the city, Peterborough’s council is considering a proposal that would see fees waived for contractors hoping to build small apartment units downtown.
“From a re-development perspective, from intensification, we need a lot more housing in and around the downtown,” said Jeffrey Humble, director of planning and development services with the city.
City staff are recommending changing Peterborough’s bylaw that would allow builders to construct small apartment buildings in the heart of the city without the $12,500-per-unit development fee. With projects like the Y Lofts moving into the city’s centre, Humble says he’s confident builders will bite.
“We’re seeing some new interest in those kinds of redevelopment opportunities,” Humble said. “Potentially, condo developments in the downtown, and I think the time is right for Peterborough to start looking at that stuff.”
It seems like it’s an idea builders can get behind. John Milne, the executive officer with Peterborough and the Kawarthas Home Builders Association was at Monday’s Committee of the Whole meeting to thank city staff for the recommendation, and encourage councillors to vote in favour of the change.
“Exempting these multi-residential and mixed-use developments from development charges, as outlined in the proposed changes to the bylaw, will remove one of the many barriers to life in the central area,” Milne told committee members during his delegation.
Downtown Peterborough is pegged as a place for residential intensification under the province’s Places to Grow Act. Milne said changing the bylaw to waive developer fees would go a long way to hitting intensification targets.
Councillors will vote on the proposal during the March 26 council meeting.
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