New data: City approves record number of new homes in 2020
Today, I am proud to report that Vancouver is making progress in tackling the housing crisis by approving a record number of new homes in 2020.
Just four years into our ambitious Housing Vancouver Strategy, and in the face of a highly challenging year, we have delivered nearly 40% of the housing strategy target to date, with 28,724 new homes approved.
When I won the election in 2018, I committed to bending the market away from luxury condos. Now, for the 1st time in ten years, the majority of approvals are rental and social housing!
- Over half (53%) of new housing approvals in 2020 were for purpose-built market rental and social housing, with approvals for these types of units doubling since 2019.
- Over 350 new below-market rental units were approved in 2020, five times the amount in 2019.
- Of the total rental approvals in 2020, 48% of units were approved under the Moderate Income Rental Pilot Program, delivering 928 market and 233 below-market rental units.
- Increasing the supply of family-oriented housing: Half of all units approved from 2017-2020 have been family-oriented units with two or more bedrooms.
Supporting families, renters, and those on low-moderate incomes is my top priority, and I will not stop working to make progress for as long as I am Mayor.
Thank you for your support.
Mayor of Vancouver