Creating Affordable Housing
Vision, the party currently in power in Vancouver, was first elected in 2008 and subsequently re-elected in 2011 and 2014. Affordable housing and environmental sustainability are its top two priorities.
Like Ottawa, Vancouver has a serious affordable housing and homelessness problem, and like Ottawa, it has responded with a plan that sets aggressive targets for new affordable housing. However unlike Ottawa, Vancouver has dedicated more significant resources towards achieving the targets. In its 2011-2014 Capital Plan, Vancouver set an affordable housing target of 1,950 units or 650 units per year. This target was met (at the end of 2014 2,050 units were either completed or in the development/construction pipeline) and renewed in Vancouver’s 2015-2019 Capital Plan. About one-third of these units will be created through the public benefits process. The remaining units are being achieved by partnering with local not-for-profit agencies, foundations, other levels of government (primality BC Housing) and by using the City’s own land, zoning tools, and financial resources.
In addition to the public benefits system, here are some other ways Vancouver has facilitated affordable housing: