Interim Vancouver Zoning Policy For Introducing More Rental Properties

Interim Vancouver Zoning Policy For Introducing More Rental Properties

  • Real Estate
September 18, 2018

Potential Solution for Adding New Rental Stock in Vancouver

The lack of housing supply has been a major problem in Vancouver. Population continues to climb because people around the world consider Vancouver as one of the best places to live. In a city dominated by single detached homes, the local government is being innovative to create a temporary policy to address the shortage of rental apartments in the city through Vancouver zoning and rental housing policy.

Affordable Housing Interim Rezoning Policy

Under this new interim policy, the city would consider approving any single-family lots consolidation on the arterial road into to mid-rise rental apartment buildings. If the assembled sites are within city’s official community plan, the site vendors usually anticipate and demand a substantial lift in land value; as a result, developers have no incentive to develop housing in an affordable housing form.

A rental proposal only works if the land is moderate in pricing, i.e. no additional density value contributes to the land. The developer could offer just a bit more than a single family value to make the rental housing proposal work.

A Vancouver zoning application for 686 East 22nd Avenue, 3811—3833 Fraser Street and 579 E 23rd Avenue has been submitted to rezone by Strand Development to the City of Vancouver for review. The site is considered under the “Affordable Housing Choices Interim Rezoning Policy”.

The “Affordable Housing Choices Interim Rezoning Policy” is specifically designed to provide more housing supply in Vancouver for those who are having a difficult time in search of a place to live. All units from this building are for rental. Under this policy, the government looks at three main factors before approving the application: Affordability, Location, and Form of Development.

The proposed building is facing Fraser Street, one of arterial road within the plan. it’s within 500 meters from Local Shopping Area, the developer can build mid-rise forms up to 6 stories. Rezoning from RT-2 (Two-Family Dwelling) to CD-1 (Comprehensive Development), Strand Development planned the assembled site for 6 stories. Mixed-Use/Full Rental.

  • A total of 121 market rental units;
  • A total of 1,005 sq. m (10,818 sq. ft.) of retail space at grade;
  • A total floor space ratio (FSR) of 3.28;
  • A total floor area of 9,813 sq. m (105,626 sq. ft.);
  • A building height of 21.5 m (71 ft.);
  • Two levels of underground parking with 108 parking spaces; and
  • 159 bicycle spaces.

The site satisfies all three requirements and is very likely that the application will be approved for redevelopment. If this development passes the public hearing, it will set a precedent for the city and the development community to tackle affordable housing from a different perspective.

The Application has just completed the open house process, Covalent Advisory Group will continue to monitor and report on the progress of this Vancouver zoning application. During the open house, we observe a few concerns from the residences in the community. Most of the residences support the proposal, however, they demand a new OCP study and a more comprehensive approach instead of spot rezoning. By doing that, the site vendors could achieve a higher lift in land value which leads developer no incentive to do rental housing.

For our more marketing insight and trend please visit our Market Intelligent section to see our land assembly reports.


Development Application
Affordable Housing Interim Rezoning Policy

Yoyoe Lu

Founder and managing principal

Yoyoe is the founder and managing principal of Claridge. She was ranked one of Vancouver’s top real estate agents. Currently, Yoyoe is our strategic mind leading the team to success. Her affiliation with industry professionals put her ahead of our competitors. Yoyoe is also part of the Rotary Club of West Vancouver, Canadian Homebuilders Association, Urban Land Institute and Urban Development Institute.

Ashley Osborn

Development Site and Investment Specialist

Ashely is our lead land and investment advisor. He has been consistently featured in the annual top 100 real estate deals of British Columbia ranking. With over $15 billion worth of domestic and international real estate investments under his belt, Ashley is one of the top agents in the province. His 20 years of real estate and financial experience make him a master in negotiation and acquisition.

Patricia Wong Chong

Investment and Leasing Specialist

Patricia is our investment and retail leasing advisor. Her experience in brokerage and market research analysis has helped her comprise over $550 million in commercial real estate transactions. Patricia is responsible, detail-oriented, and professional. Her strong work ethic and positive attitude have led her to surpass all her competitors.

Schumann Li

Land Assembly & Residential Specialist

Schumann is a top-producing realtor in the Lower Mainland with more than 30 years’ experience. Over the years, Schumann hasn’t just garnered awards, but the trust of countless customers. Her clients continually refer to her outstanding professionalism, work ethic and poise.

Wendy Kaip

Sales Associate

Whether it’s decoding city policies, strategizing relocation plans, home sellers looking for a trustworthy advisor to unlock their property’s maximum potential- Wendy is here to help every step along the way.

Prior to real estate, Wendy spent over a decade in the mining industry with her attention to detail, keen negotiation skills, extensive network and strong reputation for getting the deal done, bringing endless value to her current real estate clients.

Whether you are thinking about selling to a developer, or have more questions about commercial real estate, Wendy invites you to connect, to see how she can utilize her expertise and team to help create value and maximize your real estate goals.

Simon Chan

Managing Broker

Simon is the managing broker of Claridge Real Estate Advisors Inc. His expertise has helped our agents resolve many difficulties. Not only is Simon knowledgeable with real estate legislation, but he is also very detail orientated. With Simon on our team, our agents are confident to conduct businesses and will always get the support they need to ensure they’re not walking on dirty water.

Frank Zhou


As the analyst of the company, my key job is to help brokers to find marketable clients and locate feasible development sites by collecting and analyzing up-to-date market transaction data and conducting target market and property-level research. Meanwhile, I am also in charge of maintaining the company’s property database to ensure accuracy and comprehensiveness and continuously upgrading the level of knowledge by staying up to date with hot topics, and market trends, and incorporating findings into everyday work. Before joining the company, I worked for CR Group as a real estate investment manager, focusing on capital raising, equity and debt financing, acquisition and renovation. I hold 2 master’s degrees, one in Housing Management and the other in Economics.