Downtown Core Real Estate Densification: Occupied Floor Space of a Building Incentive

By mmuise
Description:

Downtown densification is one of the objectives of the City of Dieppe’ s Strategic Plan. This policy will allow the City to strengthen and increase its tax base in the long term and to use existing services and infrastructure more efficiently. There are three (3) types of possible financial incentives which vary by zones. The first type (Part A) is an incentive which will promote the increase in indoor space used as residential housing and commercial accommodation in buildings of four (4) or more full storeys.


Comments on Funding:

Funding is a grant calculated according to the following method:
1. Grant of $28.25/ m2 on the occupied floor space of three ( 3) storey buildings; 2. Grant of $32.50/ m2 on the occupied flour space of four ( 4) storey buildings; 3. Grant of $34.00/ m2 on the occupied floor space of five (5) storey buildings; 4. Grant of $35.75/ m2 on the occupied floor space of all buildings over five 5) stories. Depending of the location of the property, the applicant receives:
1. 100% of the total calculated amount in the case of new buildings in Zones A and B meeting the requirement that the sides of the building facing public streets are of a commercial nature with a minimum depth of 5 metres;
2. 50% of the total calculated amount in the case of new buildings in Zone B that only offer residential space and meet the specified requirements;
3. 25% of the total calculated amount in the case of new buildings in Zone C that meet the specified requirements.

Deadline: Continuous Intake
Eligibility:

The applicant must:

  • own buildings in Zones A, B, C (check the map in Appendix A on the website);
  • increase the indoor space used as residential housing and commercial accommodation in buildings of four (4) or more full storeys.
Application Steps:

The applicant must submit the prescribed form (Appendix D) before construction work starts and before applying for a building permit.

Documentation Needed:

Applicants must submit:
1. reports;
2. plans; 3. estimates;
4. other detailed supporting documents required to satisfy the City that the project complies with the program.

Other Things to Note:

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About the author
mmuise