The cost to build new housing, along with higher interest rates, has stalled developments
The City of Vancouver approved a record number of housing units last year, according to a city staff report, but still made the province’s list of municipalities that need to step up their housing game or deal with the consequences. Nicknamed the “naughty list” by the media, the growing list includes municipalities that aren’t delivering housing at a pace to suit demand.
Condo approvals also jumped up since a record low year in 2019. That year, there were 1,930 approvals for condo projects, and in 2022 there were 4,406 approvals. The city’s target is to approve at least 3,000 units a year. “This list [of municipalities] makes so many assumptions about housing supply that it misses the point of housing fairness and diversity,” he said. “You have rental versus ownership, and the type of unit. And what is the intended population you are trying to produce a stock of housing for?”
The long debate over an apartment building means it’s time for change in Vancouver’s city planning and politics
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