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Canadian developers have expressed mixed reactions to Prime Minister Mark Carney's housing policies, particularly his proposal to establish a new federal agency, Build Canada Homes, to oversee housing development. Many industry leaders, including Sherry Larjani of Spotlight Development, argue that housing should be managed by existing experts rather than introducing more government involvement. They emphasize the need for increased capital investment, streamlined permitting processes, and enhanced support for trades training to address the current housing crisis. While developers acknowledge the urgency of the situation and appreciate some of Carney's campaign ideas, they are skeptical about the effectiveness of a new government-run housing agency.

Despite reservations about Build Canada Homes, developers are optimistic about other aspects of Carney's housing platform. Notably, they support the revival of the federal Multi-Unit Residential Building (MURB) program, which previously offered tax incentives to individuals investing in purpose-built rentals, leading to a significant increase in affordable housing stock. Adrian Rocca, CEO of Fitzrovia, highlighted the current dire state of construction, noting that his company hasn't initiated new projects in the past year due to various challenges. Developers believe that reinstating programs like MURB could stimulate private investment and revitalize the housing market.

Additionally, some developers suggest adopting policies from other political platforms to enhance housing development. For instance, they advocate for a Canadian version of the U.S. Section 1031 exchange, which allows property owners to defer capital gains taxes when reinvesting in similar properties. Beau Jarvis, CEO of Wesgroup Properties, emphasized that such a policy could unlock significant capital tied up in existing properties, encouraging owners to sell and reinvest in new developments. By integrating these strategies, developers believe the government can create a more conducive environment for addressing Canada's housing challenges.

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