Vancouver’s current targets need to be updated immediately to make sure all housing-related policies and plans deliver actual affordability. Greens will:
Tie affordability to income. Vancouver’s housing programs aren’t delivering homes that most renters can afford, because they define affordability in relation to market rents. We will use renter household incomes as our benchmark, and define affordable rents at a maximum of 30%, to ensure that mid- to low-income families aren’t left behind.
- Fix the definition of social housing. Vancouver’s definition of social housing does not require the units to be affordable to the average renter household. Right now, expensive and market-rate apartments are counted as social housing units. We will bring clarity and accountability back to Vancouver’s social housing approvals.
- Set targets for non-market housing relative to need. Prioritize city-owned and city-built housing, co-ops, co-housing, supportive housing, non-profit-owned affordable rental, and affordable home ownership).
- Increase availability of rentals. Vancouver’s current vacancy rate is less than 1%. We will establish a target vacancy rate of 3% and prioritize purpose-built rental incentives and approvals to achieve it.
- Meet diverse household requirements. Target housing near public amenities including specific targets for Indigenous, accessible, family-sized, and senior housing.