False Creek North non-market housing
650 non-market homes in the former Expo Lands
The city of Vancouver announced last month that it’s reached an agreement with Concord Pacific to acquire three sites in False Creek North for non-market housing, between Granville Bridge and Cambie Bridge. The plan is that BC Housing will build a 28-storey building, a 29-storey building, and a seven-storey building, all with non-market housing. The proposal also includes a new fire hall and a daycare. There’ll be a total of about 650 homes, all non-market.
Timeline:
1990 - False Creek North official development plan for the Expo 86 site. The plan (last revised in 2013) includes a total of 11,500 homes, of which 11% (about 1250) are to be affordable (p. 8). Figure 12b (pp. 34-35) identifies 12 sites for non-market housing.
1990 to present - 540 non-market homes built on six sites. For the six remaining sites, the land belongs to Concord Pacific, but the city has the option to purchase them for non-market housing.
2018 - Agreement between city, BC Housing, and Concord Pacific. BC Housing will build 650 non-market homes on three sites (for a total of just over 1200), providing the funding to build and operate the housing.
2022 - Agreement between city and Concord Pacific. Basically, the city exercises its option to buy three sites (3, 4, and 5) for non-market housing at $11 million, and gives up its option to buy the other three sites (1, 2, and 6) in exchange for $121 million from Concord Pacific.
2023 - Rezoning is required for the non-market housing (i.e. right now it's illegal, the by-laws have to be changed). Public consultation begins.
I wonder if there'll be any opposition to the rezoning. It seems to be human nature to fear change, even when the change is "650 below-market homes funded by the provincial government."
Links:
City press release and rezoning website - the press release says “more than 650,” the rezoning website says “more than 661”