Affordable Housing and Support for Renters
The City of Vancouver’s Affordable Housing Agency (VAHA) is partnering with Vancouver Chinatown Foundation (VCF) and Vancouver Coastal Health (VCH) to provide greatly needed homes and expanded access to health care services in the Downtown Eastside. The innovative project at 58 West Hastings will create a facility with about 250 homes and a 55-thousand square foot integrated health centre.
It's encouraging to see Minister Morneau move to close a capital gains tax loophole that enabled unregulated, speculative global capital to impact Vancouver’s real estate crisis. Vancouver’s recent home price increases are not sustainable, they put our economy at risk, and shut many local residents out of home ownership.
Today City Council took next steps on a proposed new Empty Homes Tax to help relieve pressure on the rental housing market. City staff will now move forward with public consultation to provide homeowners with the opportunity to comment on the proposed tax.