You’ve been reading about densification on this website and in News From Nexus, for some time, because it is seen as one of the factors that impacts affordable housing in urban areas. This month brought another twist on the word — and the concept — for Vancouver residents and those who plan to be.
The City of Vancouver is studying an idea that would add close to 5,000 additional housing units on the south shore of False Creek, on the fringe of downtown. There are currently 2,875 units along a shoreline that does not include Granville Island.
On its website, the City says:
“We’ve been considering how this land could be used to help address the housing crisis and contribute to achieving other priorities such as accelerating action on climate change, increasing focus on equity and critical social issues, and protecting and building the local economy.”
The land is owned by the City, and the 60-year leases will expire over the next 15 to 20 years. The two phases of the plan, still in infancy, could begin as early as next year and continue until at least 2040. The currently population of False Creek South is approximately 5,500.
The proposal was first addressed at City Council on October 21, and reported in detail by the CBC. If it proceeds as planned, the plan would have a dramatic impact on Vancouver’s densification, as well as home prices for both buyers and renters.
Complete details are available here at the City of Vancouver website.
Photo: City of Vancouver