Vancouver council's moves to boost rental housing 'a big deal'
Credit to Author: Dan Fumano| Date: Wed, 27 Nov 2019 20:52:48 +0000
Four-storey apartment buildings will soon be allowed on many of Vancouver’s side streets currently dominated by single-family houses, but it remains to be seen how many will actually be built.
Vancouver’s council approved new measures late Tuesday night intended to encourage rental housing production, moves Mayor Kennedy Stewart hailed as “a big deal.”
These policies were outlined in a 236-page report from staff last week, who had been tasked with finding ways to increase the production of rental housing after the city has struggled, for years, to meet its own targets while vacancy rates remained low and rents grew higher.
The changes include, among other things, allowing four-storey rental townhouses and apartment buildings on some side streets up to 150 metres off of arterials, “pre-zoning” to speed up the construction of six-storey mixed-use projects on main streets with commercial space on the ground floor and rental apartments upstairs, and extending a pilot program aimed at producing homes affordable for moderate-income households.
Stewart, who campaigned last year on a platform of building more rental housing, said the “landmark new rental policies” would “help more of our friends and neighbours stay in Vancouver” by building thousands of more affordable rental homes in more parts of the city.
In an email sent to supporters Tuesday night after council’s vote, Stewart wrote: “This is a big deal. These changes could help us narrow the gap as we fight to meet our housing targets.
Vancouver Mayor Kennedy Stewart.
“These new policies alone won’t solve the housing crisis, but they will build thousands of new rental homes and help make Vancouver a city that works for everyone,” Stewart wrote, saying the move could help build upwards of 8,000 new rental homes over the next seven years, including almost 5,000 units geared to middle-income households earning between $30,000 and $80,000 a year.
In recent decades, Vancouver — like many other Canadian cities — saw very little purpose-built rental construction, while the development industry largely focused on the more lucrative condo market and detached houses.
Although some in the real estate industry had expressed doubt to Postmedia last week about the viability of building four-storey rental buildings on Vancouver’s side streets, they supported the recommended moves. Many developers signed up Tuesday to address council and encourage them to approve staff’s recommendations. Others, including academics, spoke against the proposed policies, warning against the potential to increase land prices through increased real estate speculation.
Between public speakers, council’s questions to staff, amendments and debate on the rental policies, the single agenda item dominated almost the entire public portion of Tuesday’s council meeting, starting at 9:30 a.m. and finishing around 9:30 p.m. NPA Coun. Melissa De Genova, the second most senior member of council, said she believed it may be “a record” for a single agenda item.
After several amendments to staff’s proposed recommendations, council voted piece-by-piece Tuesday night on more than a dozen moves. Council approved every piece of the report as amended, with NPA Coun. Colleen Hardwick and COPE Coun. Jean Swanson most consistently voting in opposition, although the two councillors voted in favour of certain moves.
CLICK HERE to report a typo.
Is there more to this story? We’d like to hear from you about this or any other stories you think we should know about. Email vantips@postmedia.com.