Vancouver Embraces Change:
On September 15, 2023, Vancouver made a historic move by evolving its low-density zoning regulations. The unanimous Council vote opened up neighborhoods across the city to allow for the development of multiplexes, paving the way for a brighter and more accessible future for both current residents and those aspiring to call Vancouver home.
A Shift Towards Attainable Housing:
The decision allows for up to six strata units or up to eight secured rental units on larger lots that were previously reserved for single-family homes or duplexes only. This policy change aims to address the housing crisis and provide attainable housing options for families who may have been priced out of our beautiful city.
A Message from Mayor Ken Sim:
“We are taking bold action on the housing crisis,” Mayor Ken Sim expressed. “Today’s motion marks a significant milestone in our ongoing efforts to enable missing middle housing. That’s attainable housing for families who are being priced out of our city. We understand the urgency of those who call this city home and are struggling to afford to live here. We are fully committed to exploring every avenue so Vancouver remains a place where people from all walks of life can find the homes they need.”
Streamlined Regulations and Zoning Changes:
To expedite the process of bringing these much-needed homes to fruition, the Council has also approved significant simplifications to regulations and the consolidation of nine separate zones into one. This move will make new home construction easier and faster than ever.
A Vision for the Future:
As part of the motion, Council directed staff to explore options that improve accessibility in multiplexes and incentivize the retention of character homes while increasing density in neighborhoods. We can expect a report back in spring 2024 with their findings, further enhancing the quality of life in Vancouver.
Aligning with Future Goals:
These changes directly align with the Vancouver Plan’s vision of creating more complete and connected neighborhoods with greater housing choices. Additionally, they support the Province’s Homes for People plan, encouraging small-scale, multi-unit home construction through zoning changes and streamlining permitting processes.
Exciting Updates on the Horizon:
As we bring you this exciting news, we also want to share a sneak peek into the future. In partnership with these visionary changes, we are thrilled to announce several upcoming development projects in Vancouver under the brand Lightwell Developments. We’re committed to keeping you updated with all the exciting details in the months to come.
If you have any questions or would like more information about these exciting developments or any other real estate inquiries, please don’t hesitate to reach out to us. We’re here to guide you through every step of your real estate journey.
Thank you for entrusting us with your real estate aspirations. Here’s to a promising future for Vancouver!