CITY-BUILT AFFORDABLE HOUSING
Increasing the supply of publicly-owned housing is a crucial part of building a Vancouver that everyone can afford. COPE will expand city-owned housing stock by 800 units per year.
There is insufficient supply of public housing in Vancouver:
The City’s Vancouver Public Housing Corporation owns only five buildings with 397 units. That is an outrageously low number.
BC Housing owns only 7,275 units in the City of Vancouver, while Metro Vancouver Housing Corporation owns 802.
Taken together, a total of only 3% of housing units in the city of Vancouver are publicly-owned.
Compare that with other notable cities locally and internationally:
The Whistler Housing Authority has built 1,900 units of affordable housing since 1997, with a clear social mandate to house over 75% of city residents.
Toronto Community Housing owns 2,200 buildings, housing 165,000 tenants.
The Hong Kong Housing Authority owns 48% of the city’s housing stock.
COPE will protect existing public housing.
COPE's "ban on renovictions" policy will stop the privatization of public housing.
For example, this would stop the privatization of Stamps Place from being profitable. We don't need another Little Mountain under Vision Vancouver. Read more on COPE's plan to end renovictions.
COPE will expand Vancouver’s city-owned housing stock.
The 2005 Homeless Action Plan, developed under the COPE-led city council, called for 800 units of social housing annually for ten years. That didn't happen.
To fill this gap, COPE’s Housing Authority will build 800 units of city-owned housing per year. Half of this - 400 units per year - will replace the 4,000 units of privately-owned low-income hotel rooms in the Downtown Eastside with quality social housing over the next ten years.
COPE has identified multiple funding sources.
Other parties do not have a plan to dedicate funds toward building city-owned affordable housing. COPE does.
COPE has identified multiple funding sources based on annual estimates, including a duty on vacant properties, housing authority profits, luxury housing tax, and more (totalling $180 million in annual targeted revenue). Read more about Housing Authority funding sources below.
“Vision won’t build a single unit of city-owned housing.
Instead they’ll just keep giving tax breaks to developers to build housing Vancouverites can’t afford.”
- Meena Wong
According to Vision Councillor Geoff Meggs, Vision’s plan is to create a “one-stop shop for developers.”
Only COPE has a plan to build city-owned housing, while Vision gives away city land to private developers.