Affordable rental housing under threat as Vancouver looks to densify with Broadway Plan

  • 📰 VancouverSun
  • ⏱ Reading Time:
  • 90 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 39%
  • Publisher: 61%

Property Property Headlines News

Property Property Latest News,Property Property Headlines

The neighbourhoods around VGH could be rezoned for buildings up to 24 storeys

Avenue — but is surprisingly quiet, an oasis of tranquillity in the hubbub of the city.

Sean Nardi is a member of the Fairview/ South Granville Action Committee, and is worried that if the city rezones his neighbourhood affordable housing will be eliminated. Nardi is standing in front of The Pasadena, three-story walk-up at 1385 W. 11th Saturday, April 2, 2022.

“The preference seems to be for wholesale redevelopment, as opposed to incremental redevelopment. It seems to me that some pacing needs to be put in place, or we will have a real loss of affordable housing. The plan covers an area from Clark Drive in east Vancouver to Vine Street on the west side, and runs north up to 1The highest densities will be around the five new subway stations along Broadway — Main, Cambie, Oak, Granville and Arbutus.

There is no part of the neighbourhood designated for low-rise, but in an email a city representative said “property owners would need to apply to the City for a rezoning on a lot-by-lot basis. Otherwise, the zoning would remain the same as it is today.”on the wealthy west side of Vancouver. But Gharibnavaz points out the area around VGH is not a neighbourhood of single-family homes — it’s already multi-unit buildings.

They’re cheaper, the apartments are bigger than the units that replace them, and many renters now living in small apartment buildings would be priced out of the city. “It’s market rental that’s well-sized, and fills the local labour pool for the area,” said Yan, the director of the city program at Simon Fraser University.

“That significantly differs depending on size. When it comes to studios and one-bedrooms it’s about 15 per cent. But for two- and three-bedrooms, you’re talking about 40 per cent.” Esthetically there’s all manner of interesting features, from a turret on a 1912 house at 1004 West 10.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Situation may be worse for renters 'cause BC gov't will pass a new law permitting prov. to expropriate property w/in 800M of transit hubs for high rises. Many 1,000s live in low rises there now. To evict us fast, en masse, will create a huge housing crisis for those 1,000s.

Oh, oh. My low rise apartment building in the 'Plan' area I've lived in many years, paying rent-controlled lower rent, I fear is sure to get demolished and replaced by a high rise and much higher rent. My question now is: how soon will I have to move?

How many additional rental units did CoV add between 1990-2010?

Yeah that’s the problem for sure

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 49. in PROPERTY

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Scrap tax exemption 'loophole' causing 'erosion' of rental affordability: housing advocatesMPs, real estate investors, and affordable housing advocates are waiting to see if Budget 2022 provides any clarity on the Liberals\u2019 promise to review an obscure tax exemption from 1995 that has fuelled the rapid rise of real estate investment trusts as large-scale landlords in Canada\u2019s rental housing sector. The existing corporate tax exemption makes
Source: TheHillTimes - 🏆 11. / 79 Read more »

Federal budget 2022 to include $10-billion for affordable housingFinance Minister Chrystia Freeland will also unveil a small business tax break, green initiatives and $8-billion in new military spending 100k new homes means nothing if the urban planning around them isn't walk/transport-centric and the economy is still asset based. how much of those homes are allocated towards affordability projs and NOT lotteries? I see the LiberalsNDP are espousing thier propaganda blaming housing prices on foreign buyers. It was LiberalsNDP largese forCERBEI had people sitting on money started bidding war's for housing INFLATION.BoC low interest rate had people borrowing money for housing and renovations All the people who had to pay way too much for their homes over the last 5 years are going to love subsidizing other people’s house too.
Source: globeandmail - 🏆 5. / 92 Read more »

Politics Briefing: Federal budget to promise $10-billion to make housing more affordableAlso: Budget will also provide new defence spending, and aim to spur economic growth through green initiatives and a small-business tax cut This housing plan is a joke. It hands our keys to the Chinese. Housing can be made affordable if interest rates were set above the inflation rate. Time to normalize and allow capitalism to function efficiently. The liberal government is classic for making it look grand. Average house has doubled. Down payment is 20 percent of 800k which is the average price of a house. Who has that kind of money? Can't fix stupid. They don't give a shit about most Canadians
Source: globeandmail - 🏆 5. / 92 Read more »

Metro mayors say they feel scapegoated by B.C. government for slow pace of housing constructionThey say some of the blame lies with the province, whose regulatory regime causes delays and because the province is not ponying enough money up for affordable housing. Maybe because you are responsible? Why does it take so long to zone anything? No wonder housing costs are so high. Lack of supply. Permitting is nothing but red tape. Yeah they are pretty much fully responsible.
Source: VancouverSun - 🏆 49. / 61 Read more »

Dental care, housing money: Jagmeet Singh says he expects Justin Trudeau will honour their deal in federal budgetDental care, housing money: NDP's Jagmeet Singh says he expects Justin Trudeau will honour their deal in federal budget, Thursday. aballinga has more: aballinga Collaborative government is the way forward 💕 aballinga Can't wait to see how much debt we're going to unload on future generations. Why young people aren't upset about this is beyond me. Do we not teach basic economics in school at all? aballinga Whats with the NDP and the dentists? Health care in the toilet and they are obsessed with teeth. I sense a conspiracy with the NDP beholden to a cabal of Dentists. Lol.
Source: TorontoStar - 🏆 60. / 55 Read more »

Kristyn Wong-Tam to leave city council to run for the NDP in June provincial electionKristyn Wong-Tam was first elected to council in 2010 and has championed equity issues, open streets and affordable housing in Toronto. “Doug Ford and the province has shown no interest in Toronto or the neighbourhoods in Toronto Centre or anywhere else, to be quite honest,” Wong-Tam said in an interview. She’s terrible. Spouts nonsense like she cares about downtown. She’s a mascot for the local NIMBY groups trying to shut down development. Take a walk in Toronto centre and ask anyone what she’s actually done. The answer is NOTHING but advance her career. The same Kristyn Wong-Tam who, if I check the voting records, voted ‘YES’ on this budget item?:
Source: TorontoStar - 🏆 60. / 55 Read more »