What Vancouver’s Affordable Housing Costs

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The City of Vancouver under Mayor Gregor Robertson has adopted “Rental 100″as part of the Vision platform to provide rental housing. What this does is give developers higher buildings and densities if they build rental housing. Developers can also get away with not paying the development cost levies which do provide funding for parks, daycares, social and non-profit housing and engineering infrastructure, like sewers and water.

As Carlito Pablo writes in the Georgia Straight  this rental incentive program was seen as a key to housing and homelessness by strategizing for  “secured rental housing“. But is it affordable? The Council report on 1812 Cook Street near Olympic Village  proposes rental units be leased at $1,496 a month for a studio, $1,922 a month for a one bedroom, $2,539 for a two bedroom and $3,333 for a three-bedroom. As the Council report states “When compared to average rents in newer…

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