Accounting: the expanded

TABLE 5.1: Rates of Return, Mortgage Fund One, 1995-2004 (%)

Year	Rate of return
2004	7.34%
2003	6.68%
2002	9.15%
2001	8.55%
2000	9.03%
1999	3.02%
1998	8.30%
1997	7.96%
1996	10.02%
1995	8.22%

Collingwood Village was built according to the planning principles and ‘best practices’ of the day, including transit-oriented development, crime prevention through environmental design, urban intensification, and urban revitalization (Concert Properties, 2005). Concert’s current building practices include those associated with the LEED™²⁴ principles, which are increasingly used for sustainable building.
²⁴ The LEED (Leadership in Energy and Environmental Design) Green Building Rating System^® is a voluntary, consensus-based national standard for developing high-performance, sustainable buildings. Their website is http://www.usgbc.org.
After the first phase of construction, it was found that the demand for parking spaces was much lower than anticipated. A transit study commissioned in the summer of 1996 confirmed that households located within 300 metres of the SkyTrain (rapid transit) station had lower car ownership rates (Bunt & Joyce, 1996). Twenty-four percent did not own cars at all, compared to 17 percent not owning a car living at least 1,000 metres from the station. Car ownership rates near the Skytrain station were found to be 0.96 vehicles per household, significantly lower than two other areas studies (Burnaby and Coquitlam), which had rates ranging from 1.40 to 1.48. Households close to a Skytrain station are also more likely to be frequent users of rapid transit: 47 percent versus 18 percent for those in remote locations. As a result of this study, the developer was successful in getting the city to reduce the minimum parking standard for Collingwood Village from 1.35 stalls per unit in the first phase of construction to 1.04 units in later phases. The resulting savings were used to improve the station area streetscape and security (Nieweler, 2004).
Another design element that encourages reduced car use is bicycle parking; all buildings in Collingwood Village have bicycle parking at and below grade. For residential buildings, there are 1.25 bicycle stalls provided for each unit. Commercial buildings and community buildings in the development have change rooms and showers (Concert Properties, 2005).