City of Vancouver staff are recommending a limit of five rental-related rezoning projects a year, but have also presented options of 15 and 30 projects a year. CityofVancouver | realestate realestatenews BC Vancouver redevelopment
biggest — undertaking that’s underway in the City of Vancouver, and disagreement about implementation and development has heated up recently after it was revealed that the City is considering a “Pace of Change Policy” that would control the tempo of redevelopment in the Broadway Corridor.
The thought is that controlling the pace of redevelopment will lower the amount of tenants who are impacted at a given time, and as such, the City is now considering four pacing options: three with annual project limits of five, 15, and 30, respectively, and a fourth option with no limit at all. The projects will then be prioritized “based on the ratio of new permanently-secured below-market rental housing units provided, compared to the number of existing rental units on site that are impacted by the development,” according to the policy draft.
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