Quote:
Originally Posted by jollyburger
Doesn't the city-wide TRPP include right of first refusal on coming back into the new building? The enhanced benefit seems to be how the average market rate is calculated so certain units could end up being several hundred dollars cheaper than their current rent.
RE: policy. I mean if that's true then you also have to live with all future dumb policy decisions by ABC being immune from revision
https://thetyee.ca/News/2022/09/26/Ken-Sim-Wants-Mayor-Vancouver/ |
The Broadway Plan enhanced the TRRP by giving
Right of first refusal for existing tenants to return to the new building at their current rent, or a 20% discount on city-wide average market rents, whichever is less
Tenants may choose to receive a temporary rent top-up equal to the difference between their current rent and rent in a new unit during construction of the new building
Returning tenants will return to new homes that are an appropriate size for their household
If the Plan hadn't included those policies, it seems obvious that there would have been far more opposition to it, including, potentially from members of Council. And it was only adopted in 2022, so it's not from the distant past, so circumstances haven't changed since it was adopted. And most developers have known that the plan would include those provisions and should have included them in their pro forma. It's not as if they're paying CACs on their significant up zoning.
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