Broadway Plan moves full speed ahead, council votes against pace-of-change policy
Vancouver city council has voted overwhelmingly against a new policy that was meant to slow down the rate of redevelopment for the Broadway Plan.
Dubbed Vancouver’s second downtown, the Broadway corridor has felt growing pressure with a rental vacancy rate of 0.5 per cent, according to a staff report.
Staff recommended a “pace-of-change” policy that would have limited the redevelopment of existing rental buildings in the Broadway corridor to five new proposals each year, which would impact renters in about 180 households.
Robert Moore, a commercial and residential real estate agent, was one of the speakers who presented at city council Wednesday.
He said he felt compelled to speak out because he doesn’t want to see any more red tape.
“The Broadway Plan was approved last June and here we are nine months later still talking about new policy layers,” he said. “Policy burdens the development process – it does not help.”
After hearing public input from residents and developers, councillors voted against the policy.
Many voiced concerns that the region is in a housing crisis and there is a desperate need to increase supply.
“We have a natural pace of change at the City of Vancouver based on what we heard from staff," said Councillor Sarah Kirby-Yung.
"They can only process a handful of applications a year. Our processes and timelines to deliver are very slow at this point and they do need to become a lot quicker."
Melissa Bernstein, a renter who lives along the Broadway corridor, said she wasn’t surprised by how council voted and hopes renters will still be protected.
“I really hope that they don't get rid of the agreements that they've set forth in the Broadway Plan, that they don't get rid of what seems to be market guarantees and help for people. I hope that the city actually holds developers accountable in finding temporary, approximately three-year housing for people (being displaced by redevelopment),” she said.
The city touts itself as having some of the toughest renter protections with its Tenant Relocation and Protection Policy.
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