VANCOUVER (NEWS 1130) – The City of Vancouver is about to decide on a proposal to make it cheaper to live here.
On Wednesday, Vancouver City Council will vote on the strategy to build 72,000 new units over the next decade.
Councillor Kerry Jang says that could mean more townhouses, mid and high-rise apartments in high-transit areas.
He says they will be looking at different models to ensure that housing is made for people to live in, and not be a commodity.
“My wife and I tried buying a place in Hong Kong, only to be told we weren’t Hong Kong residents, and we were out of luck,” he says. “I think local people buying housing as a commodity is an issue. So that’s all fine, but so long as that housing is here, let somebody live in it, don’t just keep it empty and flip it.”
He says the 10-year plan would need more staff to work out a budget.
Jang says the strategy will look at rezoning neighbourhoods to make room for more dense housing, with everything from more townhouses, low-rise condos, and mid-rise apartments where you typically see traditional detached homes.
“Trying to find the right housing for different types of income bands, and how they spend their money on housing, it’s not just about paying rent anymore, but sometimes they share with people, and there’s even inter-generational living.”
The report also plans to build more affordable housing, with a studio costing around $950 to $1,600 for a two-bedroom apartment.
There are many people scheduled to speak at city council before the report is voted on.