Controversial housing development project not going ahead in Vernon
A major housing project in the hillside looking down onto Vernon will not be going ahead.
At a special meeting Monday, June 1, Vernon City Council received an updated lifecycle cost analysis for the 3,500 unit housing development proposed for the Commonage area.
The study found the project would have a deficit of approximately $5.45 million annually after taking into account operations, infrastructure and service delivery, versus property tax revenues. This would represent a need for property taxes to be increased by 7.7 per cent.
However, the developer Kerkhoff Develop-Build, argued in an emailed statement that the analysis did not take into account revenues from the Development Cost Charges (DCCs), which it said could be around $100-million.












