US EditionB.C. Easing Rules on Upfront Costs for Homebuilders to Spur Project Construction
- The British Columbia government announced on July 2, 2025, new measures in Delta, B.C., to ease upfront development fees for homebuilders and expand Surety Bonds provincewide.
- The changes respond to stalled housing projects caused by high construction costs, rising fees, tight capital access, and high interest rates burdening builders.
- Developers will now pay 25% of development charges at permit approval, 75% upon occupancy, and have four years to complete payments instead of two years.
- Housing Minister Ravi Kahlon said these solutions could mean the difference between projects proceeding or being canceled and that this is a 'cost-of-delivery crisis.'
- These rule changes aim to make housing faster and cheaper to build, enabling more developments despite market pressures and helping address affordability concerns.
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BC Changes Cost Regulations for Home Builders to Increase Construction
The B.C. government says it is making changes to how home builders pay for new housing projects, in an effort to spur more development. The changes announced include reducing upfront development costs, and a more flexible timeline for builders to pay. Minister of Housing and Municipal Affairs Ravi Kahlon told reporters the government was committed to finding innovative solutions for home construction during a July 2 news conference about the gov…
·New York, United States
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Total News Sources25
Leaning Left17Leaning Right2Center3Last UpdatedBias Distribution77% Left
Bias Distribution
- 77% of the sources lean Left
77% Left
L 77%
14%
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