Vancouver Rental Market Discussion

[whatnext]

Originally Posted by Changing City

I'm guessing that might extend protection of purpose-built rental buildings in C-zones. That's what the "low-rise buildings along East and West Boulevards between 41st and 49th Avenues" are zoned. It's inaccurate to call them all 'affordable rentals' though - many of the demolished buildings were market co-ops that chose to sell out to developers. Almost all the rental buildings in the city - something like 90% of them, in RM-zones - are protected. There are a few in Commercial C-zones (a few on West Broadway for example, and some on East and West Boulevard) where that protection doesn't currently extend.

While the rate of demolition of rental buildings has increased in Vancouver, that's because many of the demolished units are (except in C-zones) being replaced with even more affordable rental. An example is Mirabel on Davie. That development involved the demolition of 68 rental units (although strangely, 47 were not protected because the building had been stratified). The replacement building will include 68 social housing units. They'll be given to the City of Vancouver as an air right parcel, and the City will choose a not-for-profit manager to run their units, quite independently of the other strata units. Those won't all rent at market - in fact it's unlikely any will, as the City have no mortgage to cover, just the ongoing management and maintenance.

I think you need to clarify "replaced with even more affordable rental". Do you mean more units at a similar rate as the old, or units that are even cheaper than the old?