Lengthy permit processes in real estate development create significant financial burdens, as developers must pay interest on construction loans for extended periods, potentially adding millions of dollars to project costs and forcing them to raise additional equity capital; this delay can extend project timelines from months to years, exposing developers to market risks such as declining rents and changing economic conditions.
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Nothing Gets Built Fast Enough In CanadaAjouté :
for [ __ ] sakes, just eliminate one year of process instead of development charges and things that like just stop being morons, right? Like just give us parameters that we can actually build within and let us [ __ ] go. Give us a permit in a few months. Like they keep saying, right? They keep making all these changes, but none of them give us permits quickly unless you're willing to build something stupid, right? You can't build anything that makes any [ __ ] sense with quick permits. And so the quick permit thing, if you understand, forget about the fact that it costs, okay, let's just say it costs an extra million dollar, okay? Because you have to pay interest for another year because how long the goddamn process literally takes for no reason, okay? Just that the million dollar as a percentage of the amount of money that you need of equity to build this project ends up being significant. Okay? So now you have to raise x amount percent more money for this deal just to [ __ ] pay interest payments because the city can't get their goddamn [ __ ] together. And the real truth is that what could happen in a few months takes three [ __ ] years.
Now you got to raise $3 million of interest and take three years longer and end up in a different market than you started the project even in. So guys that started 3 years ago the rents went down for 19 [ __ ] months. How do you deal with that? But they could already be finished and maybe stabilized within a year and a half if things really work the way that they should around here.
Why does it take so [ __ ] long to build something? Check out the full video on YouTube and
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