Moderate Income Rental Housing Pilot Program (MIRHPP)

Moderate Income Rental Housing Pilot Program (MIRHPP)

  • Real Estate
  • Redevelopment
  • Rental
July 18, 2019

1805 Larch St Rendering

Moderate Income Rental Housing Pilot Program is a program that remedies lack of housing supply in Vancouver. What makes this program unique is 100% of the residential floor area is for secured rental housing. At least 20% of the residential floor area is made available to moderate-income household earning between $30,000 to $80,000 per year. This pilot program will select up to 20 proposals between January 1, 2018 to July 1, 2019 to engage in a full rezoning process.

Being a 100% rental development, there is plenty of incentive provided for the developer to be profitable in participating in this program including:

  • Additional height and density beyond what is available under existing zoning
  • Development Cost Levy (DCL) waiver
  • Parking requirement reductions
  • Relaxation of minimum unit size and configuration requirements
  • Expedited processing

To Date
As we are approaching the closing date, 7 of 20 proposals is in the rezoning process. The incentives provided is more than enough for the developer to participate in the MIRHPP. There were 55 developers expressed interest for the limited available slots. Project for multi-storey high-rise is currently in the works: 6-storey mid-rise on Grandview Highway, 14-storey high-rises on East Hasting, 80-unit apartment building on East Vancouver and 87-unit apartment building on Renfrew.

These rental specific buildings aim to provide more rental options for the area that lacks housing supply and 20% of the units is rented out at a reduced rate to help to ease affordability problem in Vancouver. MIRHPP is unique because the rents for the moderate-income households is fixed at $950 for Studio, $1,200 for 1 bedroom, $1,600 for 2 bedrooms and $2,000 for 3 bedrooms. The rate is considerably lower than market rental rate and the rate will increase based on the Residential Tenancy Act. The rent will adjust based on family income.

We’re happy to see more pilot program to find a solution to Vancouver’s housing problem since the existing rental 100 isn’t enough to meet market rental supply. The program is definitely a success with many developers showing interest.

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.