The delay of site plan approval in Ontario is not only costly for developers but also has a significant financial impact on condo buyers, according to a report by the Ontario Association of Architects (OAA).

The report, created by Bousfields Inc. and Altus Group, reviewed almost 500 site plan applications across the province. The data revealed the approval process is often delayed between six and 12 months, with 35 per cent of applications taking longer than nine months to get approved.

“Unnecessary delays, inefficiencies and lack of a coordinated process are creating additional costs that are inconsistent with the value of the site plan review,” says Bill Birdsell, president of the OAA.

Every month a site plan approval is delayed, it costs residential developers of a 100-unit condominium building approximately $193,000, the report states. This cost, which includes taxes, financing, and inflation on construction costs and materials, is then often passed onto new condo buyers.