To fully address Metro Vancouver’s housing crisis, an ambitious build-out program of 10,000 new units annually of non-market rental housing is needed and should include public housing and co-ops that are truly affordable for ordinary households.
The greatest need is rental housing for low- to moderate-income households, precisely the kind of housing that is unprofitable for private-sector developers who would rather build luxury units for sale to the highest bidders worldwide.
For over a decade, local governments have attempted to spur rental housing by providing financial incentives for developers to build rental over condos and to include market rental as part of bigger condo developments. This approach has proven to be inadequate.
Read the report, Planning for a build-out of affordable rental housing in Metro Vancouver, to learn about our recommendations for what is needed to realize the affordable housing required in Metro Vancouver.