New data shows affordable housing surge since 2012

More than 50% of new rental and social housing approved in the past decade was done in the last two years alone, according to City of Vancouver data that demonstrates an affordable housing surge in Vancouver.

According to year-to-date data through July 2014, 67% of all rental housing approved since 2003, and 55% of all social housing approved since 2003, has taken place since 2012.

“We’re seeing record levels of new rental and social housing being built in Vancouver, which is crucial for building a future where our city is more inclusive and prosperous,” said Mayor Gregor Robertson. “We’re seeing new housing built that meets the needs of people who live and work in our city. Our housing plan and programs are working and the shovels in the ground prove it.”

Since 2012, 2,942 new rental housing units have been approved, out of 4,353 since 2003. In 2008, there were zero new units approved.

As well, 1,382 new social housing units were approved, out of a total of 2,516 since 2003.

New programs initiated under Mayor Robertson include the short-term incentives for rental (STIR) and Rental 100, which provide incentives to build rental units instead of condos (such as faster permitting and reduced parking requirements). As well, the City’s 10-year Affordable Housing and Homelessness Plan was approved in 2011, setting clear targets for new social and supportive housing that have been reinforced in new community plans for Marpole, the West End, and the Downtown Eastside.

“Our focus has been ensuring we deliver new housing that meets a range of incomes,” added the Mayor. “We need a range of affordable housing options for people on different incomes, and these numbers show we’re on the right track.”

 

Market Rental Housing Units Approved by Year (2003-2013)

 

 

 
Market Rental Units
% of 10 year Total

2003

36

1%

2004

183

4%

2005

200

5%

2006

105

2%

2007

192

4%

2008

0

0%

2009

0

0%

2010

106

2%

2011

589

14%

2012

1047

24%

2013

1097

25%

2014 YTD

798

18%

Grand Total: 2003 - 2014 YTD

4353

100%

 

Social Housing Units Approved by Year (2003-2013)

 
Social Housing Units

% of 10 year Total

2003

99

4%

2004

154

6%

2005

60

2%

2006

275

11%

2007

74

3%

2008

97

4%

2009
                              37

1%

2010

113

4%

2011

225

9%

2012

465

18%

2013

291

12%

2014 YTD

626

25%

Grand Total 2003-2014 YTD

2516

100%