Through the Developers’ Lens: Challenges Faced by Developers in Building Projects Targeted to Older Canadians
What is it about?
Getting any housing project off the ground and seeing
it to fruition is a complex and risky endeavor, and most
projects targeted to seniors also encounter additional
challenges.This session will explore the complex nature
of this business and examine many of the common
- Obtaining financing for projects; what are the common
pitfalls and potential solutions?
- Navigating the planning process and the length of
time it can take in some municipalities; would greater
collaboration between planners and developers
- Competition for land with condo developers, who
can afford to pay more, can a way still be found for
developers to build projects geared to older adults in
- The development charges imposed by municipalities
can negatively affect profitability and affordability
»» Is there a solution?
- Building codes and regulations; There is at times
a contradiction between code requirements and
developer requirements, and there are no codes
yet for assisted housing and memory care facilities
- Finding the right neighbourhood, correctly anticipating
demand and building for cultural diversity