Quote:
Originally Posted by VanK
@invisibleairwaves. Are we not all aware that Burnaby has a 20% inclusionary rental policy? At least 20% of the units are below market rental (when taking down existing rental). There is also additional market rental density available on top which many are building. Also existing tenants are "accommodated" between displacement and construction completion. The tenants have first right of refusal to come back into the new build at their existing rents/affordable rents. Its never easy being displaced but its a pretty good compromise.
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But that's a relatively recent policy change. For decades Burnaby effectively encouraged the loss of affordable rental buildings and the creation of condo towers.
The question is whether Pinnacle should be able to move their required rental units off-site. The compromise on multi tower projects has often been to allow one building to be rental (including non-market), and the remainder to be wholly strata. Here they want to export the rental to an entirely different location.
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