Developers face challenges building in Vancouver

Published: Fortune.com (PDF)
May 30, 2020
628 words

Catalyst Project 600 Queens West

Greater Vancouver is one of North America’s toughest housing markets, with expensive real estate and a significant shortage of affordable rental units. Even though local governments acknowledge the problem, the property developers who want to build multiple-unit housing often face pushback from municipal councils and local activists.

The North Shore of Vancouver is home to three suburban municipalities: West Vancouver, with its 10,000-square-foot monster mansions, and the two North Vancouvers: the densified City of North Vancouver, nestled against the waterfront, and the largely single-family suburban District of North Vancouver which surrounds it.

The current North Vancouver District council was elected in 2018, and since then every proposal for multifamily housing, including rental, has been defeated, postponed, or rejected. Local developers are making hard decisions to keep their businesses moving forward at a time when the municipality is blocking every housing development that comes before them.

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