UDI/Vancity Affordability Index: Housing affordability stays top of mind for Metro Vancouver mayors

UDI/Vancity Affordability Index: Housing affordability stays top of mind for Metro Vancouver mayors.

from the Vancouver Sun and quoting in part:

North Vancouver City

Mayor Darrell Mussatto, elected to his fourth term, said the construction of new residential towers will continue in Lower and Central Lonsdale at roughly the pace of the last decade.

(Voices comment:  This is a concerning statement from Mayor Mussatto, considering that the number of units already constructed, or in the pipeline, have exceeded the 2031 Regional Growth Strategy targets)

But there is a new emphasis on developers building rental buildings, not just condos. “In the last year or two, people are starting to get back into rental again,” Mussatto said. “(Developers) are finding it is now financially desirable for them if they are going to hold (onto the property) for 20, 30, 40, 50 years.”

The city has offered incentives to owners of older three- and four-storey walk-ups to keep the buildings as affordable rental units, rather than tear them down and replace them with fancy new condos. Those incentives include allowing owners to turn unused amenity rooms into new suites, and waiving parking requirements.

The city already allows affordable options like secondary suites in duplexes and laneway houses. But Mussatto also hopes to follow Vancouver’s lead by changing bylaws to allow a standard lot to contain three residential units: a modest family home, a secondary suite, and a coach house.

Mussatto, his mother and his brother already live in a similar model: “Where one house used to be, now there is three units and mine is a laneway home.”

To the voters who raised concerns during the election about the pace of change, Mussatto said the 80 per cent of residential land that contains single-family homes will stay the same, and that density will mainly happen near transit arteries. He cautioned, though, that North Vancouver City will have to slow construction of new affordable housing if TransLink doesn’t improve transit service to the North Shore.

Read more: http://www.vancouversun.com/business/affordability/Vancity+Affordability+Index+Housing+affordability+stays+mind+Metro+Vancouver/10400270/story.html#ixzz3Jp4LmyM8

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2 responses to “UDI/Vancity Affordability Index: Housing affordability stays top of mind for Metro Vancouver mayors

  1. Automall development belies this claim about being on transit routes.

  2. There hasn’t been any ‘affordable’ housing!

    Sent from my iPhone

    >

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