A 10-year strategy and a three-year action plan to address the lack of affordable housing in Vancouver have been approved by City Council.
In a release, Vancouver Mayor Gregor Robertson called the new strategy a “bold, forward-thinking plan.”
“[It] was directly informed by what we heard from local residents: We need urgent action now to ramp up not just the supply of housing, but the right kind of supply,” said Robertson.
Meanwhile, Gil Kelley, General Manager, Planning, Urban Design, and Sustainability, said the state of housing here is jeopardizing our city’s diversity, community, and longevity.
“Our new strategy is ambitions, and will see many changes across the city,” said Kelley.
“Our three-year action plan ensures that action continues quickly to guarantee a future for the people who live and work in Vancouver.”
The action plan includes 120 commitments to action, including the following 10 priorities:
The strategy also includes looking into banning foreign buyers of real estate in the city, although such a move would require approval from the BC government.
It also follows plans to force developers to restrict pre-sales of property to Metro Vancouver residents, possibly for the first 30 days.
And only last week, Justin Trudeau announced Canada’s first ever National Housing Strategy, at a cost of $40 billion over 10 years.
Kelley said the Housing Vancouver Strategy had taken 14 months to create, with assistance from local, national and international housing experts, and 10,000 residents of Vancouver.
Robertson said the strategy would go after real estate speculation, offer more protection for renters and would transform single-family neighbourhoods across the city.
“This comprehensive approach will help us maintain Vancouver’s diversity and vibrancy, and create more affordable housing options for young people, growing families, seniors and our most vulnerable residents,” he said.
To read all the documents relating to the housing strategy vote, go here: