Planning & Development Priorities Presentation to the Vancouver Real Estate Forum

Transcription

1 Planning & Development Priorities Presentation to the Vancouver Real Estate Forum April 25, 2018 Gil Kelley, GM Planning, Urban Design, & Sustainability

2 Today s Presentation Vancouver Statistics Development Activity Recent Plans Housing Vancouver Northeast False Creek Cambie Corridor Phase 3 2

3 Vancouver Statistics 3

4 Vancouver Continues to Grow ( Census) 4

5 Vancouver Continues to Grow ( Census) City of Vancouver Population , , , , , , , , , , , , , , , , , Year 5

6 Density is Highest in the Core 0 People/ha

7 Vancouver has a High Share of Rental Housing Starts New rental supply in Vancouver Vs Metro Vancouver in the last decade 26% of ALL housing starts in Metro Vancouver are located in the City of Vancouver and 56% of RENTAL housing starts in Metro Vancouver are located in the City of Vancouver 7

8 Over 50% of Households are Rented % of rental households declined between 1996 and 2016 BUT % of rental households increased

9 Development and Rezoning Activity 9

10 Development Activity has Surged over 5 Years Development volumes in 2017 were lower than forecasted due to a significant reduction in applications in Q4 (22% lower than Q4 2016). Despite that, annual volumes remained in the same range as the previous 5 years. The first quarter of 2018 shows 3% higher volumes than the first quarter of last year, and the jump in rezoning applications in 2017 indicates permit volumes will remain high or further increase. 10

11 Affordable Housing Approvals have Increased The supply of non-market housing jumped significantly from 2016 to 2017, representing about a 170% increase from 2009 and the single highest year of non-market housing approvals on record since the 1950 s.

12 The City is Expediting Affordable Housing SHORT Pilot Status Over 2,600 units active in the pilot Times To Date ~400 units under construction Target Median Complex and pre-pilot projects adding time to RZ s Median DP time = 12.9 weeks RZ 28 wks 35 wks DP 12 wks 12.9 wks BP S1 6 wks 3.7 wks Case Study Target Actual Delta RZ 28 wks 24 wks -4 wks DP 12 wks 11 wks -1 wks Roddan Lodge & Evelyn Saller Centre 213 affordable rental units Bombardier BP S1 6 wks WIP 12

13 The City is Streamlining Low-Density Housing Service Level Agreements The City established new service level agreements to complete initial reviews and return applications to homebuilders in 8 weeks. Staff have seen significant improvements in the past year: Q1 2017, less than 9% of applications were being reviewed in under 12 weeks Q1 2018, 79% are being returned in 12 weeks, and 70% in 10 weeks Bombardier 13

14 Rezoning Volumes have Increased Rezoning inquiries and applications have continued to increase, more than doubling the historic average. The 2017 Rezoning Enquiries were 42% higher than forecasted, and the 2017 Rezoning Application actuals were15% higher than forecasted. 14

15 Upcoming Commercial Developments 400 W Georgia Ground-level commercial space 23 storeys of office 102 E 4th Avenue Ground-level light industrial 7 storeys of office/digital and technology uses 15

16 Simplifying Development Contributions CACs/Density Bonusing Adding certainty by expanding use of pre-set contributions 2013 = 10% of projects; today: 50% New density bonus districts implemented in Joyce Collingwood and False Creek Flats in 2017 Cambie Corridor Plan: Over 90% of developable area will have pre-set contributions New CAC exemptions for rental New commercial linkage targets for non-residential projects Upcoming update on CAC policy

17 Simplifying Development Contributions. Cont d Development Cost Levy Updates DCL rates and allocations updated to reflect spending priorities Collapsed DT South DCL Area into City-wide DCL Developing a new City-wide Utility DCL

18 Recent Plans 18

19 Housing Vancouver Strategy Shift towards right supply by building more affordable housing and limiting speculative investment Protect our existing affordable housing stock for the future Increase support and protection for those who need it most

20 Housing Vancouver Strategy Housing Vancouver Targets Are Better Matched to Local Incomes 10-Year Housing Targets ( ) 5,200 1,600 2,000 2,500 3,000 12, ,500 6,500 16,500 7,000 2,000 2, ,700 3,300 12,000 20,000 30,000 4,000 1,000 5,000 17% 28% 42% 5% 1% 7% 5,200 1,600 4,500 23,500 26,200 11,000 72,000 7% 2% 6% 33% 37% 15% 100% 100%

21 Northeast False Creek

22 Cambie Corridor Phase 3 Plan Highlights New housing types, accommodating an additional 45,800-51,500 new residents by ,800 social housing units 400 below-market units 5,000 secured market rental units 7,400 townhouse units Complete street design on major arterials New public spaces, streets, connections New urban core with variety of housing, jobs and amenities 985,600 ft 2 of commercial space Over 3,000 jobs (in addition to 3,000 jobs at Oakridge Centre) Site-specific policy direction for amenities including childcare, open space, and affordable housing $687 million over first 10 years (parks, plazas, public realm, Oakridge Civic Centre, social housing) Long term: 1,080 additional childcare spaces, new VPL branch, seniors centre, social housing

23 Thank You 23