Quote:
Originally Posted by Changing City
Vancouvermarket has blogged details of three of the Moderate Income Rental Housing Pilot Project buildings. Two are on East Hastings, for PCI, and one on Stainsbury Avenue just West of Victoria Drive. There are 94 and 118 units in 14 storey buildings on East Hastings, and 80 in a 5-storey building (rezoning from RS-1 single family).

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The neighbourhood was not happy about these two yesterday. Curious to see where it goes - seems like a lot of opposition. Ultimately I don't know how organised they will get in trying to fight it.
Nearly all opposition was for the height and precedent. Most were not at all opposed to redevelopment along Hastings, long as it conformed to the existing height and build form. Precedent came as the second worry - if these were built would other lots be rezoned to maintain build form? Would the gap between these two be eventually filled be a same size tower?
The renders are also a lot more appealing. Few colourful box style balconies, overall look a lot less drab than above.
One thing to add - and this is something I heard 3 or 4 times. A lot of people conflating real estate values going down with vacancies going up. I heard a lot of "well its not a problem any more, real estate is getting cheaper." It would seem like people were trying to say cheaper asset prices somehow have also resolved the 1% vacancy rates.