Posted May 29, 2020, 11:49 PM
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Registered User
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Join Date: Feb 2009
Location: Vancouver
Posts: 26,746
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Quote:
Originally Posted by Changing City
You've said that before, and it wasn't true then, and it's not true now. Hundreds of new rental units have been created in the West End, and almost no dreary but functional walkups have been demolished. The two Safeway rental towers replaced a Safeway. The liquor store was replaced by a tower, and there were 10 units there. The London Drugs parking lot had no residential. Up the street, Jervis and Mirabel are developing 96 non-market rental units - more than the market units that were there before. There's a net gain in affordable units in the West End.
The few buildings where affordable units are being lost is when those dreary blocks are being given a 'back-to-the-studs' makeover, and the developer then charges much higher rents. As there's no redevelopment, the city can't get any affordable units out of those projects.
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Is there any way to see what the non-market monthly rental rates are for these projects?
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