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By FenceSitter (anonymous) | Posted September 17, 2009 at 09:50:07
"1. The developers are asking for $18 million in public funding, or two-thirds of the total redevelopment cost, to provide subsidized rental prices on only half of the units."
Great point. But do not forget there is also a commercial component to the redevelopment. The subsidized portion would amount to less than half of the units (when commercial space is included).
Like many I have followed this debate and had trouble at times knowing if I object to this project for the right reasons.
It does seem that a few developers will make a great sum of money of the back of the taxpayers of Hamilton. If the city of Hamilton needs more subsidised housing, then fine. But there has to be better ways to spend $18m.
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