More Townhouses Coming to Vancouver

(June 25, 2012 )

Vancouver Mayor Gregor Robertson unveiled the city's newest plan to attack the housing affordability problem.  The plan is to develop more row houses and stacked townhouses near transit centers.  The buildings will be a mix of rental, co-op, strata, etc. 

The idea is to bring down and/or stabilize rental rates for those unable to afford today's housing market, and in general, bring down the cost of housing.  The city has one of the lowest rental vacancy rates in the country, and the highest rents among Canada’s largest cities.

The Vancouver Mayor states, “We all have to ratchet down our expectations for big gains that are leveraged out of higher housing prices. Our goal is to get more affordable housing. That still means jobs and business and profits for developers and it means a real benefit for the community.”