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Bullboard - Stock Discussion Forum Madison Pacific Properties Inc T.MPC

Alternate Symbol(s):  T.MPC.C | MDPCF

Madison Pacific Properties Inc. is a Canada-based real estate company, which owns, develops, and operates office, industrial, commercial, and multi-family rental properties located in British Columbia, Alberta, and Ontario. The Company also has investments in joint ventures that develop residential properties. The Company’s investment portfolio comprises around 54 properties with approximately... see more

TSX:MPC - Post Discussion

Madison Pacific Properties Inc > From Vancouver Sun.
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Post by undervalue on Nov 18, 2023 3:36pm

From Vancouver Sun.

Just like that, single-family zoning is a thing of the past in B.C.

 

Describing single-family zoning as outdated, the B.C. NDP is allowing small-scale, multi-unit homes of up to six units on single-family lots. This will apply to all municipalities with more than 5,000 residents.

 

 
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But isn’t zoning a largely municipal matter, consisting mostly of slumber-inducing planning sessions, interspersed with the occasional rowdy, friendship-shattering public meeting?

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Not anymore.

 

The NDP bill eliminating single-family zoning, the Housing Statutes (Residential Development) Amendments Act, seizes zoning authority from municipalities and transfers it to the province.

 

Municipalities with a population higher than 5,000 will now have to zone in line with a provincial policy manual.

 

While this manual has not yet been released, what we know so far indicates a significant passing of local zoning control to Victoria.

 

Official community plans will need to be updated to reflect the policy manual, and then public hearings for housing projects consistent with said community plans will be phased out. Nixing public hearings for housing projects will even apply to mixed-use projects where just 50 per cent of the project involves housing.

 

Not only does this bill eliminate single-family zoning, it also does away with public input on most new development.

 

This is great news for developers, but how will it affect B.C. communities?

 

This bill will lead to a dramatic densification of suburbs and the semi-rural outskirts of cities and towns.

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Such a rise in population would add significant pressure on infrastructure, such as water and sewers, in neighbourhoods designed to house a much smaller number of residents living in single-family homes.

 

The increase in residents will mean an increase in cars, which means more pressure on road infrastructure and more congestion.

 

A quieter atmosphere to raise families is the very reason many people move to single-family neighbourhoods in the first place, but busier roads will be less safe for kids running around or teenagers playing street hockey.

 

And when rezoning almost the entire province with one bill, did the NDP, in its wisdom, consider something so mundane as where on earth all these new residents will park?

 

It is also clear that eliminating single-family zoning will alter the character of neighbourhoods.

 

Many love the energy and excitement of the city, and all the power to them — but others prefer to enjoy it in small doses.

 

Many people move out to single-family neighbourhoods to raise families, to retire, or simply to get away from the hustle and bustle.

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The dream of one’s own little house, with a backyard and garden, in a peaceful neighbourhood has long been acknowledged as a deeply rooted and lovably whimsical element of the Canadian psyche.

 

The B.C. NDP, whose interests curiously coincide with those of big developers, is saying that it is time to give that dream up.

 

Let’s be honest about the principal reason why: immigration-driven population growth.

 

The NDP predicts that eliminating single-family zoning will deliver a grand total of 130,000 homes — over the next 10 years.

 

From July 1, 2021, to July 1, 2022, B.C. had a net migration rate of 103,674 people, mostly from immigration.

 

Ending single-family zoning will weaken community autonomy, create infrastructure chaos, and shatter the character of neighbourhoods —while failing to address the leading pressure driving the need for more housing.

 

Instead of a blanket rezoning of almost every lot in the province, the B.C. NDP should demand a greater say from Ottawa in how many immigrants our province accepts, and tie that number to housing capacity.

 

Riley Donovan is a columnist for the Islands Marketplace and an independen

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