The City of Vancouver proposed to extend its Rental Housing Stock ODP (RHS ODP) policy

The City of Vancouver proposed to extend its Rental Housing Stock ODP (RHS ODP) policy

  • British Columbia
  • Real Estate
  • Redevelopment
  • Vancouver
February 2, 2021

The City of Vancouver is planning to extend its Rental Housing Stock ODP (RHS ODP) policy. The proposed amendments will be presented to City Council for review and a public hearing will take place on February 9th, 2021.. The proposed amendments will be presented to City Council for review and a public hearing will take place on February 9th, 2021.

The RHS ODP policy requires one-for-one replacement of existing rental housing units in developments of three or more units in multi-family apartment areas (RM, FM, and CD1 zones). The first rental regulation protection came in place was in 1989. Referring to the graph below, the number of rental units in RHS ODP area were severe and the city established this policy to preserve rental housing. RHS ODP area covers 77% of the existing purpose-built rental housing stock.

Canada Mortgage and Housing Corporation’s (CMHC) latest report shows the rental situation is only slightly improved despite all the added rental units that were built every year. When the COVID is over, we expect more people to return to Vancouver and the situation will be dire. Increasing rental units is a top priority, however we will need to protect old rental units too.

The proposed amendment will include commercial areas zoned C-2, C-2B, C2-C and C-2C1 to the areas covered by the RHS ODP. Number of rental units in C-2 zoning approximates to 3,050 rental units representing 4% of City’s purpose-built rental stock. The added C-2 areas are on city’s main streets such as Kingsway, West Broadway, 49th Avenue, Main Street, Clark, Fraser Street and Hastings. These are having redevelopment potential or features old building that require renewal or redevelopment.

Vancouver is undergoing rapid redevelopment according to the city’s official community plan. RHS ODP is becoming more and more important to preserve rental units. The original RHS ODP map covers majority of the OCP initiated area such as Cambie Corridor, Downtown, Marpole, Fairview and more. Redevelopments in this area will need to replace it with new secured rental units. This policy will encourage developer to consider a purpose-built rental when planning because the requirement to replace existing rental with combination of rental development incentives.

Over the past years, rental units in commercial zoning have increased more than the number being demolished. The new policy will prevent losing more rental unit at the same time promote more rental units being built.

A public hearing will take place on February 9th, 2021, everyone is welcome to share your opinion!

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.