Broadway Plan Sees 146 Projects in Development Pipeline
Transformative 30-Year Vision for Vancouver's Corridor
The ambitious 30-year plan approved by Vancouver's previous city council in 2022 for Broadway and its corridor has attracted significant interest from developers, with a total of 146 projects currently in the development pipeline. This transformative vision aims to prioritize market and below-market rental housing, as well as social housing near transit hubs, improving access to jobs, schools, and community amenities for low- and moderate-income renters.
Key Points
- 146 projects are in the development pipeline
- 117 of these projects are residential or mixed-use residential
- A total of 22,842 homes are planned, including:
- 540 social housing units
- 3,639 below-market rental units
- 16,307 market rental units
- 2,356 strata units
Detailed Analysis
The data provided by Josh White, the City's general manager of planning, shows that a significant number of projects are in various stages of development. Of these, 29 are in the formal rezoning enquiry stage, 68 are in the rezoning applications stage, and 20 have reached the approval stage. Meanwhile, 25 projects are seeking development permits, three are awaiting building permits, and one has reached the occupancy permit stage.
However, not all experts are optimistic about the plan's potential. Michael Geller, a veteran planner and retired developer, expressed surprise at the number of below-market units planned, stating that it will likely be only 1.6 times the number of existing affordable units. He also raised concerns about the impact on older apartment buildings and character streets.
Coun. Pete Fry shared similar sentiments, highlighting the need for more data on the Tenant Relocation and Protection Policy (TRPP) and its implications for tenants affected by redevelopment. He also noted that while many projects are in the pipeline, there is a significant imbalance between rezoning inquiries and development permits issued.
Conclusion
The Broadway Plan has the potential to significantly transform Vancouver's corridor, but concerns about displacement, gentrification, and the impact on existing communities remain. As the city moves forward with this ambitious vision, it is essential to address these issues and ensure that the benefits of redevelopment are shared equitably among all stakeholders.