Kitsilano residents’ fight against small apartment block a harbinger GlobeBC
. There are problems with that program, which waives development cost levies to foster a greater supply of supposed affordable rental housing.Rents in a recently approved Rental 100 building on the West Side will range from $1,646 for a studio to $3,702 for a three-bedroom, which, although slightly below market rates, are still unaffordable for many Vancouverites. It’s perfectly valid to question whether city resources should be used to subsidize housing for renters who arguably don’t need help.
This is the right time for a rethink. Unlike social housing, where land and construction costs are funded by government, housing for middle-income earners is generally delivered by private developers, sometimes with the help of government incentives. When land prices hit record levels, affordability fixes for the “missing middle” require hefty subsidies or density bonuses.
Some say Vancouver should take advantage of powers recently bestowed by the provincial government allowing municipalities to zone for rental. But that isn’t going smoothly for New Westminster, the first municipality to try. Landholders are taking the city to court, claiming it is unfair for the city to devalue land they have owned for years.
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