On behalf of the Halifax Regional Municipality (HRM) and in partnership with Toderian UrbanWORKS, Cantwell & Co. and Coriolis Consulting Corporation, this Density Bonusing Study provides thoroughly researched answers to four questions:
1. Is HRM getting the best value out of density bonusing as a planning tool?
2. What can be learned from other municipalities that have had successes and challenges using density bonusing?
3. How can density bonusing be improved in order to achieve more/better public benefits?
4. How should density bonusing be expanded and implemented within the Centre Plan Area?
The financial picture shows that the average annual value of density bonus amenities would be approximately $1.1 million per year for the first seven years (until the inventory of approved units is built out), and could double for each year after that, totaling about $14.3 million over the 10 year projection period. This is based on the rates, real estate geographies and development assumptions presented in the Study.