09-26-2018, 11:53 AM
(09-26-2018, 11:17 AM)rangersfan Wrote: The writing on the wall for this decision was made a couple weeks ago when the heritage committee rejected the idea for 2/3 properties in question to be demolished.
I also wonder if part of the decision was based on how Vive approached the development of this project (not having an agreement in place with all land owners before going to the city etc).
How does the proposed rent of 1550/month compare to get average rental rates in Kitchener? Still seems quite pricey (although I don't really have much bearing in this department ).
ROOF supports the proposal. And Vive committed to three affordable units for ROOF, but that did not sway the council.
Currently Vive's own Woodside Terraces are renting for $1300, and Belmont Trio is advertised at $1500. Two years from now, when this project was slated to be completed, those prices will be somewhat higher.