Below-Market Rental Program Questionnaire

As we develop the new 10-year Housing Vancouver Strategy, the City is exploring policy options to encourage development of more affordable, below-market rental housing. While recent initiatives like Rental 100 have contributed to a resurgence in market rental housing stock production, rents continue to rise rapidly, and many moderate income Vancouver households are unable to afford a secure, adequately sized and conveniently located rental unit in the city.

In particular, households earning between $30,000 and $80,000 are facing circumstances where they are unable to afford market rents, but are also ineligible for or unable to access social housing or other government housing subsidies. Several key goals of the City’s work to address this critical gap include:
  • Creating more of the ‘Right Supply’ by enabling projects where 100% of the residential floor space is rental, and a portion of units are rented at below-market rates to eligible tenant households.
  • Ensuring the availability of below-market rental units to households with local incomes that do not qualify them for social housing, but also do not allow them to afford market rents.
  • Ensuring affordability is preserved through permanent rent controls that are tied to the eligible tenant’s unit and that limit annual rent increases to ensure rents remain affordable.
  • Creating clear tenant selection criteria and administration requirements that result in below-market units that are straightforward to manage.
  • Enabling new potential for rental housing development in a variety of scales and forms in neighbourhoods across the city, including areas near transit, amenities and services.
The City is exploring ways to encourage innovative projects that deliver on these goals with various incentives, including:
  • Additional Density
  • Parking Relaxations
  • DCL Waivers
  • Expedited Processing
  • Capital Grants (to Non-Profit Operators)
We’re looking for feedback on the ways future policy could best support the delivery of this type of below-market rental housing. As key contributors to this initiative, we would appreciate your early input via this brief survey. A workshop session is also taking place on Thursday September 21, 2017, from 3:30pm to 5:00pm. For more details and to RSVP, please contact Graham Anderson at graham.anderson@vancouver.ca or 604-829-9264.

 

Previous Experience

1. Do you or your company have experience developing purpose-built rental housing in Vancouver or elsewhere?

Select all that apply.

2. Do you or your company have experience developing affordable or below-market rental projects in Vancouver or elsewhere?

Select all that apply.

3. What approach has your company taken on owning and operating rental housing projects?

Select all that apply.

4. What depth of affordability was delivered in the projects you’ve worked on?

Select all that apply.

Affordability & Administration

If you draw on experience or existing policy from other cities, please specify where.

If you draw on experience or existing policy from other cities, please specify where.

7. Does a below-market rental program create opportunities to partner with non-profit societies?

If you draw on experience or existing policy from other cities, please specify where.

Location & Form of Development

If you draw on experience or existing policy from other cities, please specify where.

Follow Up & Other Ideas

Please provide your top 3.

Please provide your top 3.

12. Would you like to be contacted with an invitation to participate in an upcoming workshop session on below-market rental in Vancouver, taking place on Thursday September 21 (3:30pm-5:00pm)?

Please provide your name, title, organization and email contact.