Read on Twitter
In March, Vancouver City Council asked: Are we planning to build too many homes? Staff’s answer: we’re building way too many new single-family homes, and not nearly enough of all the other kinds.
From 2010 to 2019, 57% (57%!) of new residential floor area built in Vancouver was built as single-family homes. At the current pace and under current policy, we have an implicit target to build about 1,300 new homes every year for people making $270k+.
We put up all sorts of barriers and expensive restrictions for multi-family homes, but single-family homes get a "go straight to go" card and don't need to go to a public hearing or seek Council approval.
And since we are really committed to this target, we go the extra mile and subsidize single-family homes by giving them a break on development fees---fees for new apartments are ~4x what we ask new single-family homes to contribute.
Vancouver is planning to fast-track and subsidize 13,000 homes for the 1% over the next ten years. On what grounds is this defensible policy?
Staff's report is here: https://vancouver.ca/files/cov/memo-housing-policy-recalibrating-housing-vancouver-targets.pdf
