The City of Vancouver has introduced the Moderate Income Rental Housing Pilot Project, with density bonusing in exchange for 20% of the units renting at about 35% below market. TL;DR MIRHPP is a win-win, it manages to create both, new units that rent significantly below market, as well as market rentals. Both of which are badly needed, paid for with additional density. The allocation mechanism for deciding who gets to rent one of the sub-market units is problematic.
City of Vancouver council rejected the development application for 21 purpose-built rental townhouses in Vancouver’s exclusive enclave of Shaughnessy last week, and the owner is now proceeding with building a mansion on that lot instead. Councillors gave a variety of reasons for the rejection. Some were voicing concerns of about the compatibility of hospice use with the 3 ½ storey townhouse development next door, which seems far fetched as a quick look at St John’s hospice at UBC (the low building on the right in the picture here) shows.
About half a year ago I did a post on Airbnb data back when enforcement of the Short Term Rental (STR) regulation came into full effect starting September 2018 and have not really writing things up since then. Probably time for an update post. What has happened since, and what have we learned? Overview Let’s take a look how listings evolved. After the initial purge of listings before the start of enforcement, not much changed.
When we (Denis and Jens) got together for coffee the other day, Denis showed off some maps of renter density in the frequent transit network that he was working on. The idea immediately clicked and we decided to work this out together. Motivated by the issue of renter demoviction caused by the 2017 Metrotown Plan, we set out to quantify how one could plan for displacement on a regional level, instead of treating it as an unwelcome consequence of development at the lot level.
Disclaimer Apologies up front, this is a bit of a hodge podge of a blog post. I have about half a dozen stubs on rental data and affordability that I looked at at some point while trying to understand some aspect of rental affordability. But it’s a large and complex topic, and I never took the time to distill out coherent storylines. Rather than keep pushing things off I decided to grab a couple of relevant pieces and put them together in a short blog post.