The City of Vancouver has seen a record year for the approval of more rental housing.
With 1300 units approved, more housing is becoming available in a city where about half the population rents.
City Councillor Geoff Meggs says this a great first step, but it’s not enough to solve extremely low vacancy rates.
“We need a systematic approach regionally to create rental housing, and we need that supported by action federally and provincially.”
He wants to see the numbers rise.
“Our vacancy rates remain disastrously low. A healthy rate would be, you know, two to three, four percent. In fact, five percent vacancy is considered healthy in many cities. We’re under one percent, we’re down to, really, down to zero.”
He adds 5000 units are needed a year to close the current housing gap.
– With files from Steve Zhang