Vancouver's Broadway Plan is a Go-Ahead: Will Add 30K Homes

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The goal of the 30-year BroadwayPlan is to address the looming housing crisis, economic growth and the climate emergency. Vancouver realestatenews

. The plan, approved by council on June 22, 2022, will transform 485 city blocks within the area from Vine Street to Clark Drive and 1st Avenue to 16th Avenue. This will include the Kitsilano, Fairview, and Mount Pleasant neighbourhoods. The goal of the 30-year Broadway Plan is to address the looming housing crisis, economic growth and the climate emergency by creating denser, walkable neighbourhoods with new market and rental housing, jobs, and amenities around the SkyTrain line.

Currently, neighbourhoods in the area currently house 78,000 residents , of which 30,000 are renters; and 25% of Vancouver’s purpose-built rental housing. The City forecasts the area will grow in the next 30 years by 50,000 residents to 128,000 residents from the current 78,000; and 42,000 to 126,000 jobs from the current 84,000 jobs.

Of the some 42,000 jobs, many will be generated through the preservation and enhancement of the current shopping areas on West 4th Avenue, South Granville, and Main Street. While the initiative sounds great in theory, some housing experts worry that the Broadway Plan could come with a slew of other issues.

 

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