TITUS has developed a suite of products and services to ensure the successful development of new projects and communities. We have looked at the different aspects of a development project and have created incentives for each of the potential stakeholders. The approach is based on trying to establish sustainable, fulfilling communities while reducing costs, investment requirements and risk.
By designing developments and communities as a whole we are able to implement our TITUS DESS Business model, as well as share the development and infrastructure costs. Along with resource sharing, utility sharing and development economies of scale, TITUS has also come up with some innovative and aggressive strategies to help ensure development projects move ahead in a timely manner. We have looked at the challenges that maybe faced by the city, developers and homebuyers and created incentives and opportunities to remove some of the potential barriers, including:
- TITUS Shared Utility Services: TITUS has developed a shared utility service model that combines utility services’ costs, revenues, infrastructure and right-of-ways to reduce the overall capital and operating cost. This typically results in a 10% savings to the consumer. To further increase the opportunity for the developer, and minimize their risk capital; TITUS can provide fully serviced finished lots. In this case, TITUS will provide all the core and renewable utilities within the new developments (telecommunications, electricity, water, reclaimed water, sewer, district heating/cooling, and roads and possibly local transit). Where there are other suppliers, TITUS will provide a logical demarcation point to engage with other utilities in volume based purchase agreements that would allow TITUS to make a margin to help pay down the overall costs, without impacting the cost to the consumer. (See also TITUS Shared Utility Services)
- TITUS Cross-Subsidization Services: TITUS has also developed a suite of cross-subsidization strategies where TITUS develops value added properties around major infrastructure assets (wastewater treatment plants, combined heat and power stations, waste to energy plants, etc.). These properties would typically be commercial, retail and recreational to raise the value of the surrounding (developed) lands that may otherwise be perceived to lose value by virtue of their proximity to these infrastructure assets. These value added properties help subsidize the utility infrastructure, reducing the cost to the utility and the consumer. (See also TITUS Community Development Services)
- TITUS Green Mortgage Helper: TITUS is working with its banking partners to develop a low interest GREEN Mortgage Helper through a reserve fund that captures a percentage of the value realized from the above. The goal is to help more home buyers enter the market while meeting the CMHC mortgage requirements for 20% down payment with as little as 5% down. By enabling more homebuyers to enter the real estate market we help to increase the absorption rate and decrease the amount of time the developer’s and the utility’s capital is at risk. (See also TITUS Green Mortgage Helper)