An external review has found that Vancouver’s incentive programs have so far been successful in delivering purpose-built rental housing, but more needs to be done to meet the city’s need.
According to a study prepared by CitySpaces Consulting, the city’s rental incentives have resulted in the approval nearly 8,700 new rental units since 2009, a significant increase to Vancouver’s rental supply. But the study also acknowledged that rental units remain in short supply. “There continues to be a significant shortfall of rental supply throughout the region, created by decades of very limited new construction,” the report read. “While the City of Vancouver and other municipalities in the region have turned the trend away from a net loss of rental units towards a net gain of new starts, the cumulative shortfall remains considerable.”
One of the main barriers remains the financial attractiveness of condos over rental units.A separate financial review conducted by Coriolis Consulting found that under the current model, developers will continue to prefer condos over purpose-built rentals on fiscal grounds.“Even with the existing incentives … market rental apartment development only generates an estimated profit margin in the range seven per cent to 11 percent at the sites that were tested,” Coriolis wrote. Source: ctvnews.ca
Sunday, May 3, 2026
