William Lew Live-Dream-Play

Call or Text 604-862-1966 | EMAIL info@williamlew.com |

Vancouver announces boost for supply of affordable rental homes


by Steve Randall28 Nov 2019

Several policy changes proposed by Vancouver City Council could deliver thousands of new rental homes over the coming years.

The council approved recommendations this week that will enable faster development of rental units and in more areas of the city.

Councillors backed measures including include rental-only zoning, allowing up to six storeys in commercial zones, a new family-friendly housing pilot program for four to six storey buildings close to schools, parks and shops.

“Vancouver residents told us loud and clear to take action on the housing crisis so that's exactly what we've done,” said Mayor Kennedy Stewart. “Together, these policies could help build upwards of 8,000 new rental homes over the next seven years, including nearly 5,000 homes geared to middle-income households, helping more of our friends and neighbours stay in Vancouver.”

Plans to increase affordability include incentives to provide more rental housing for households that earn less than $80,000 per year, by continuing to process and evaluate applications under the Moderate Income Rental Housing Pilot Program.

Environmental impact
The Climate change emergency will be at the heart of all policies, by promoting wood-frame construction, lower embodied emissions, and meeting green buildings standards to reduce energy needs for the building through its lifetime.

The rental only zones will be close to local amenities to ensure walkable communities.

“All parts of the City organization play a role in addressing the housing crisis in our community,” said City Manager, Sadhu Johnston. “Council's support for this package of initiatives to increase rental production and support energy upgrades on existing buildings with a focus on keeping tenants in their homes, demonstrates our collective commitment to tackle this challenge head-on.”

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.