Vancouver City Council passes Broadway Plan

VANCOUVER Mayor Kennedy Stewart on Wednesday welcomed passage of the Broadway Plan at Council, fulfilling his promise to put renters first by introducing the strongest tenant protections in Canada and further shifting housing construction in Vancouver away from higher-end condos to affordable rental homes.

“Tonight marks a turning point in how Vancouver plans housing for the future,” said Stewart. “I promised to put renters first and tonight Council passed a plan that ensures Vancouver’s prosperity is shared with everyone – people who call Broadway home today and 50,000 new neighbours who will move to  Broadway over the next 30 years.”

The Mayor’s changes to the plan safeguard existing rental rates, so no tenant along Broadway will see their rents go up in the event of redevelopment. Additional renter protection provisions in the plan will even result in some tenants having their rents lowered below their current rate, Stewart noted.

“For too long Vancouver was focused on luxury condos few could afford, but now over 50 percent of the homes we’re approving are rental,” said Stewart. “The Broadway Plan accelerates this housing revolution by delivering over 66 percent rental housing.”

Photo: City of Vancouver

The historic Broadway Plan includes the following enhanced protections for renters in the event of redevelopment:

  • Paid relocation to a temporary rental with a top-up keeping interim rents the same;
  • The right of first refusal to return to the new development; and
  • Rent at 20 percent below CMHC’s city-wide average rents or existing rent – whichever is lower.

“Broadway is British Columbia’s second largest economic area and the largest jobs corridor in Western Canada,” said Stewart. “The Broadway Plan will help tens of thousands more people live close to their jobs and ensure Vancouver continues to be Canada’s hottest economy.”

The plan as amended also includes significant improvements to active transportation including an all-ages and abilities bike lane, as well as hundreds of millions of dollars of additional investments in childcare, parks, plazas, cultural spaces, and community amenities.

“This bolder Broadway Plan will build some of the most inclusive, dynamic, sustainable, and family-friendly neighbourhoods in Canada,” said Stewart. “And now it’s time to extend tenant protections and build more rental homes across the entire city – because building a Vancouver for all of us means building a Vancouver where everyone has a safe, secure, and affordable place to call home.”

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