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'At a reckoning point': Vancouver defers fees to prevent new housing slowdown | Urbanized

dailyhive.com · 2,799 words · saved by 1 readers

Vancouver City Council is expected to endorse a wide-ranging set of policy changes this week aimed at jumpstarting many stalled development projects and boosting housing supply, as the real estate sector grapples with deteriorating market conditions and rising construction costs that have left many housing projects on the brink. Staff of the City of Vancouver are recommending a suite of financial and regulatory relief measures to improve development viability across the city. “It’s very, very expensive to build here in the Lower Mainland. And so, we need to tackle that head on. Certainly there are things we don’t control [as a municipal government], but insofar as there are factors we do control, we should try and influence those things,” Josh White, the General Manager of Planning, Urban Design, and Sustainability and the Director of Planning, told Daily Hive Urbanized in an interview on Friday. “We’re seeing a very, very large volume of projects revisiting, usually requesting more de

Construction crane for a new Vancouver residential building. (Lijuan Guo/Shutterstock) Vancouver City Council is expected to endorse a wide-ranging set of policy changes this week aimed at jumpstarting many stalled development projects and boosting housing supply, as the real estate sector grapples with deteriorating market conditions and rising construction costs that have left many housing projects on the brink. Staff of the City of Vancouver are recommending a suite of financial and regulatory relief measures to improve development viability across the city. “It’s very, very exp

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