I was at the webinar as well. If you can get six homes on a 50-foot lot, about 1000 square feet each, I think the market price would be comparable to a townhouse (i.e. about $1M). As I understand it, the builder can either (1) make two of the homes permanently affordable at a lower price, or (2) just pay a fixed fee to the city (CAC) that then goes into paying for social housing and/or local infrastructure. You can find some pro formas in this report from Small Housing BC: http://www.smallhousingbc.org/wp-content/uploads/2019/03/PAH-report_final.pdf
Just completed an infill. While your totals are about right, some adjustments. Design fees can be done for 1/2 of that. Construction costs are 30-50% higher. City fees are triple yours. Finance costs are much higher without full collateral. CACs, well they told me they would "probably" be waived. They were imposed anyway. Then there's all the extraneous costs, new underground hydro service, sewer rebuild with separations (pray that you can do gravity), water was free but now meters, and timing - good luck with that. 3 years, not 3 months for permitting, 18 months not 9 months for construction, if you're lucky. Any change, any question, can add months of resubmissions, rechecking each department etc. I could write a book. And code requirements. Don't get me started.
I was at the webinar as well. If you can get six homes on a 50-foot lot, about 1000 square feet each, I think the market price would be comparable to a townhouse (i.e. about $1M). As I understand it, the builder can either (1) make two of the homes permanently affordable at a lower price, or (2) just pay a fixed fee to the city (CAC) that then goes into paying for social housing and/or local infrastructure. You can find some pro formas in this report from Small Housing BC: http://www.smallhousingbc.org/wp-content/uploads/2019/03/PAH-report_final.pdf
Just completed an infill. While your totals are about right, some adjustments. Design fees can be done for 1/2 of that. Construction costs are 30-50% higher. City fees are triple yours. Finance costs are much higher without full collateral. CACs, well they told me they would "probably" be waived. They were imposed anyway. Then there's all the extraneous costs, new underground hydro service, sewer rebuild with separations (pray that you can do gravity), water was free but now meters, and timing - good luck with that. 3 years, not 3 months for permitting, 18 months not 9 months for construction, if you're lucky. Any change, any question, can add months of resubmissions, rechecking each department etc. I could write a book. And code requirements. Don't get me started.