Vancouver’s housing affordability crisis is “not looking good” according to city officials.
That prognosis coming from a city meeting on the issue Thursday.
“When it comes to the affordability and the 10-year-plan of housing that will come out of supply, it’s just not going to match what the community is needing,” says Community Services Manager Kathleen Llewellyn-Thomas.
She says that plan calls for nearly 48,000 new units in the city.
The city estimates it will complete just 27,000 of them by 2026.
Thomas says the city also needs to address the middle class, especially those making $50,000 to 80,000.
“We’re going to be producing less than half of the housing that they will be need. For families who make less than 80,000 a year we’re going to be producing less than half of what’s needed.”
Chief Urban Planner Gill Kelley says the city now wants to link supply to residents’ incomes, instead of creating supply based purely on the type of unit.
“One potential to explore, for example, is a requirement for some amount of inclusionary housing on any project,” he says.
“Many cities in the U.S. do that. Another example to consider is to offer density bonuses where a certain amount of guaranteed long term affordable housing is provided, so developers get back something for providing that housing.”
Officials say the city is looking to expedite 20 projects through a one year pilot program, which could deliver 2,000 new units.
.@CityofVancouver explains future actions to solve housing crunch:— Emily Lazatin (@EmilyLazatin980) March 23, 2017
1. Set affordability targets by income range instead of type of housing
2. Create more of the right housing supple in @CityofVancouver .— Emily Lazatin (@EmilyLazatin980) March 23, 2017
3. Create new types of affordable housing in single family neighbourhoods.
4. Provide more @CityofVancouver land for affordable housing.— Emily Lazatin (@EmilyLazatin980) March 23, 2017
5. Prioritize housing crunch issue ( much of this has already been announced)