Supporters, opponents of rent cap seek change to Liberal legislation
“If we’re going to look hard on the revenue side, we’ve got to make sure we’ve got guardrails on the cost side,” said Jeremy Jackson, a vice-president at Killam Apartments, which owns more than a quarter of all the units in New Brunswick. “It’s about making sure we’ve got people motivated to build here.”
Housing advocates tell MLAs bill is too weak, landlords say it will deter developers from building new units
New Brunswick’s housing minister says major amendments to his rent-cap legislation probably won’t be possible before it is adopted next week, despite criticisms from both supporters and opponents of the bill.
David Hickey said after two days of hearings by a legislative committee that he’s in a hurry to get the cap passed and into effect by Feb. 1 – even after warnings that it has loopholes and that it could deter developers from building more units.
“We’re open to amendments but they need to be achievable within the timelines that New Brunswickers are relying on,” said Hickey, who is not a committee member but who sat and listened to the presentations. ….[Continue Reading]