Posted January 27, 2022 8:33 am.
Last Updated January 27, 2022 8:39 am.
Vancouver city council has passed a motion to allow lots for single family homes to be turned into multi-family units.
The new Making HOME (Home Options for Middle-income Earners) plan involves rezoning 2,000 single-detached home or duplexes to be developed into up to six units each.
The plan, spearheaded by Vancouver Mayor Kennedy Stewart, also promises that it could generate up to 10,000 new homes across the city, along with hundreds of millions of dollars through land-value capture tools.
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Those funds could be used to, “help fight homelessness, build affordable rental, repair infrastructure, expand childcare, and accelerate the Climate Emergency Action Plan,” as stated on the website.
The plan is to allow middle class people to be able to afford a home in the city, especially for those who wish to go in on a group mortgage or downsize and split up the property.
Middle class, according to the plan, is those who have a combined household income of $80,000-$120,000 a year, with the goal of moving the income standard lower to include those who make under $80,000 annually.
However, it’s not clear yet which body will oversee the program, how you can apply, or when it can be started.
“With tonight’s vote, Council has asked staff to report back on a framework to implement these changes, including zoning updates and development guidelines,” the mayor wrote in a statement Wednesday night.
????MAKING HOME PASSES!!????
To young people & hard working families who love #Vancouver but are feeling pushed out, my message to you is this:
Making HOME is about giving you hope and giving you choice. It’s about giving you a future in our great city. https://t.co/UU61rV2LAj
— Kennedy Stewart (@kennedystewart) January 27, 2022
“To all the young people and hard working families who love Vancouver but are feeling pushed out, my message to you is this: Making HOME is about giving you hope, and giving you choice. It’s about giving you a future in our great city,” said Stewart.
