VANCOUVER – The City of Vancouver has announced a full commitment to aligning itself with recently announced provincial housing targets in Saanich, B.C. by B.C. Minister of Housing Ravi Kahlon.
Over the next five years, Vancouver will work to meet or exceed the provincial target of 28,900 new completed units of housing, a City of Vancouver release said.
“Vancouver is ready to take the lead on building new housing. We have said getting homes built requires an all hands on deck approach, and we are pleased to see clear support from the province to build the homes that we need to tackle the housing crisis head on. The City of Vancouver is fully committed to do what it takes to make sure we have attainable housing for everyone who calls our city home,” Vancouver Mayor Ken Sim said in a statement.
“Targets involving completion will require the joint effort of the city and the province to manage factors that are outside many municipalities’ control,” added City of Vancouver acting general manager of planning, design and sustainability Doug Smith. “These include access to funding and financing for market and non-market developers, high interest rates, increased cost of construction and availability of labour. While municipal governments, including Vancouver, cannot control many of the factors affecting completion of housing projects, we can control approvals and we are making strides there.”
Vancouver has already moved to improve housing approvals by introducing new technologies and simplifying regulations to streamline permitting, the release said, and added Vancouver City Council recently approved a proposal to create low-density zones to allow multiplexes and enable missing middle housing.