Investment Restrictions, Vacancy Taxes and the Impacts on Developers
Author: Mark V. Lewis and Shauna Towriss
Current to: June 2023
Your new Practice Point is here, designed to keep you at the top of your law game.
Coming as part of CLEBC Online Course Materials, “Investment Restrictions, Vacancy Taxes, and their Impacts on Developers” was presented by Mark V. Lewis of Bennett Jones LLP and Shauna Towriss of Cassels Brock & Blackwell LLP for the recent CLEBC course Real Estate Development Update 2023.
In their paper, the authors examine five pieces of legislation — two federal, two provincial, and one municipal — having direct impacts on developers and land development in British Columbia. They aim to provide readers with a better understanding of the legislation’s impacts on investments and effects on developers.
The article goes on to discuss the challenges that developers face in structuring ownership relationships and planning developments due to new investment restrictions and taxes. It also highlights the complicated, often confusing, and costly regime that requires significant advance consideration and planning on the part of real estate lawyers and their developer clients when undertaking new development projects.
Packed full of extremely relevant and useful information, this paper is a must for those practicing real estate law in BC.