Unlocking Vancouver’s housing potential by rezoning single-family lots

A unique opportunity has emerged that promises to reshape the way we think about housing. As Vancouverites grapple with rising property prices and a growing demand for more affordable housing, the city of Vancouver recently adopted a sweeping reform for lower-density neighbourhoods to allow up to eight homes on a single-family lot. This innovative approach can help mitigate the soaring cost of housing and also help break down land speculation barriers while fostering generational wealth.

Affordability through density

A pressing issue in Vancouver’s housing market is the high price of purchasing a home. By rezoning single-family lots to accommodate multiple units, the city is taking a bold step towards addressing this problem. It will help open up opportunities for people of all income levels by creating a variety of housing options, often referred to as ‘multiplexes for the missing middle’.

Mitigating the cost of housing

Building a single-family home in Vancouver can be prohibitively expensive due to high land prices and construction costs. Rezoning allows for the cost-effective development of multiple units on a single lot, essentially reducing the land cost per door, reducing the cost per unit. More attainable homes help reduce barriers that historically have created exclusionary neighbourhoods, attainable mainly by an affluent demographic.

Community benefits

Increasing housing density supports sustainable urban development for more vibrant communities and promotes the use of public transportation. Moreover, the presence of multiple units can enhance a sense of community, as neighbours collaborate to maintain shared spaces.

Challenges and considerations

While we support this rezoning concept, the proposed regulation embodies some inherent restrictive challenges we believe may become barriers to delivery of multiplexes.

The opportunity exists to generate additional homes, but without flexibility, the potential size of new units may not be practical to serve the changing needs of families.

If electrical capacity needs to be increased, property owners will have to carry the cost of installing pad mount transformers (PMT) on private property to accommodate the additional units. These costs can reach well into six figures.

We believe providing increased density with maximum opportunity and flexibility for property owners incentivizes rather than restricts. With services shared by the community versus placed solely with the homeowner, it will help achieve a successful program that can make a meaningful difference in increasing housing supply and choices. Tied into this is also the matter of tenure and we support the concept of stratification and ownership models that are more predictable for securing financing, in turn helping to promote generational wealth.

This innovative strategy benefits individual homeowners and fosters vibrant, sustainable communities with homes for young families and an aging population. Embracing such innovative solutions is crucial to ensure the city remains a place where everyone can call home.

To hear more on this subject, listen in to HAVAN’s podcast Measure Twice Cut Once. Season 6 Episode 46 features BC Housing Minister, Ravi Kahlon speaking with me and Jake Fry of Smallworks and Small Housing BC. Available where you get your podcasts.