Real Estate Development Cost Charges Update

Real Estate Development Cost Charges Update

  • Business
  • Real Estate
May 16, 2019

We would like to thank our partner from First National Financial. Their consolidated development charge index report helps developers to keep up with municipal charges. First National publishes its Development Charges Index frequently based on constant, cross-Canada surveys of charges levied by selected municipalities.

There are different fees that local government charged to developers. The most commonly known is the Development Cost Charge or Development Cost Levy (DCC/DCL). Development cost charge is levied by the city when the developer proposes a new real estate development. These fees are used to cover municipal expenses such as parks, utility system upgrade, or other expense that benefits the community.

The Development Cost Charge is different for every city and First National Financials’ report helps us collect and compile this information from credible sources. The detailed report separates the cost into usage and density. It helps our land assembly specialists to assess development costs and helps us produce a viable proposal for potential buyers and sellers.

Date: May 16, 2019

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burnaby development charge

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north vancovuer development charge