Council has approved rezonings to facilitate nearly 1000 new homes this week, includingmore than 200 new rental apartments, and a major project at South East Marine Drive and Fraser Street that will deliver 368 homes and 37 new childcare spaces. Also approved for rezoning was Japanese architecht Kengo Kuma’s 43 storey carved tower at Alberni and Cardero.
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.