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Councillors deny DC payment extensionPosted April 10, 2018New Tecumseth council rejected an Alliston developer's request for up to a one year extension to pay approximately $1 million in development charges for the water, wastewater, and transportation component, that's due May 25. Until it's paid, the Town will not issue building permits for its phase two. Negar Javaherian, Project Coordinator with Oxnard Development, which is building 59 semis and townhomes around the Kingsmere property at Industrial Parkway and King Street, told councillors last night the provincial government's Fair Housing Plan, which added a 15-per-cent Non-Resident Speculation Tax, among other policy measures to create more affordable housing units, and federal mortgage lending changes have softened the new housing market. Ms. Javaherian said they have only sold two houses since October 2017 in their Kings Gate development. Their phase two homes range from 1,068 sq ft at a starting price of $459,990 (reduced from $479,990) to a 2,197 sq. ft at $569,990 (reduced from $629,990). Council, which only received the deputation, determined they did not want to set a precedent for other developers to follow. At this post, Ms. Javaherian had not replied to an emailed message seeking comment as to how the rejection will impact their development. Click here to report typos/errors or send Letter to the Editor.
by Tony Veltri
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