With prices listed at $1,600 a month for a studio, $2,800 for a two-bedroom and $3,700 for a three-bedroom, officials in Vancouver, British Columbia are wondering whether the Rent 100 program is achieving its intended goals.
Jen St. Denis reports that "extremely high rents proposed for several new rental buildings" have provoked Vancouver officials to revisit the Rental 100 program.
"Supporters of the Rental 100 incentive program say it’s kick-started a rental building boom in Vancouver after a 30-year period when no new purpose-built rental buildings were being constructed, and it’s reckless to consider cancelling it when there is a dire need to increase rental housing," according to St. Denis.
"Over the past decade, 3,644 new rental units have been completed in Vancouver, according to the city. Staff said 2,161 of those units used Rental 100 incentives or a previous program known as STIR. Developers can apply to get a break on development fees if they agree to put a covenant on the building that will keep it being used as rental for 60 years and to charge 'affordable' rent rates."
City councilors question whether the rents of new buildings using the system are actually achieving affordable rents. City staff are thus reviewing the, and "Councillor Adriane Carr plans to introduce a motion that will freeze new applications."
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With the housing shortage only getting worse, updates to a key federal program could help.
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National Parks Layoffs Will Cause Communities to Lose Billions
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Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
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Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
EMC Planning Group, Inc.
Planetizen
Planetizen
Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service