Two years into its Housing Vancouver strategy, the city said it is making steady progress towards delivering 72,000 new housing units by 2027.
“Overall we’re moving towards the 10-year targets, with approvals and completions for social and supportive housing, family housing, laneways and market condominiums well above the annual targets,” said Gil Kelley, General Manager of Planning, Urban Design, and Sustainability.
In the past two years, a total of 15,404 units have been approved across the city. This includes:
Still, areas identified in the report where more focus is required include purpose-built rental for all income levels, and in particular, more housing options for residents earning less than $50,000 per year.
The report noted that for purpose-built market rental housing, progress toward affordability targets is determined using certain assumptions:
And while he said he is “pleased” by what he sees in the report, Vancouver Mayor Kennedy Stewart said the city needs to “work harder to create more affordable options – especially for minimum and low-wage households.”
In this case, Kelley said some options being considered by the city include looking at how and where to introduce rental-only zoning, working with other levels of government to encourage lower-income rental homes, and “continuing to enhance our rental incentive programs.”
According to the city, Housing Vancouver is the 10-year housing strategy “to foster a diverse, vibrant community.”
The strategy is based on three core principles: