Vancouver Mayor Kennedy Stewart wants to expand protections for renters who are displaced from their homes when their building gets redeveloped.
Stewart issued a statement Tuesday saying he’s aiming to include the same protections from the recently-approved Broadway Plan in the city-wide Vancouver Plan.
The mayor’s proposed amendments would mean renters would be paid to relocate to interim housing and the developer would subsidize the rent increase for the displaced tenant.
Further, once redevelopment is complete the original tenants would have the right of first refusal to return at the same or lower rent.
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“We are a city of renters and that means ensuring no renter fears their rents going up because of new development,” Stewart said. “We can and we must protect the renters of today while making room for the renters of tomorrow in new, secure, and affordable homes in every neighbourhood of Vancouver.”
Thom Armstrong, CEO of the Co-operative Housing Federation of BC, said he supports extending robust tenant protections to the whole city.
“The risk of widespread tenant displacement will escalate in times of rapid growth and redevelopment, with devastating consequences for renter households,” he said in a statement.
Stewart will find out Wednesday night if his proposed revisions are approved by Council which is set to vote on it July 6.