Together, we can solve the housing emergency. Judy Graves and your OneCity team have credible, made-in-Vancouver solutions that the city can implement immediately to get our city back on track.
We can solve Vancouver’s housing emergency by building thousands of new, guaranteed affordable rentals owned by the city and rented at a fixed rate of 30% of tenants income. We envision a Vancouver where families, professionals, seniors, students, and renters all have housing options that fit their budget. Here are the pillars of our progressive plan to ensure Vancouver has the local power to tackle the housing crisis head-on:
1. Create a local luxury property surtax of 1.5% on the most valuable 1% and 0.5% on the most valuable 5% of residential properties in Vancouver.
2. Use the new revenue to build up to 10,000 new guaranteed affordable rental units all over the city within 5 years. Ensure rents are fixed at 30% of tenants’ income in all these newly created City-owned rentals, forever.
3. Create a Flipping Levy on all homes sold within 3 years of purchase. The Flipping Levy would apply a 50% tax to the speculative profit made within the first year, and decrease to 35% in years two and three.
4. Open up all Vancouver neighbourhoods with new city-wide inclusionary zoning to put affordable housing before sprawling mansions and luxury developments.
Want to learn more? Download our fact sheet.
You shouldn’t have to be a real-estate investor to enjoy life in Vancouver.
Housing Affordability in this city is in a state of crisis. In 2017, there were a total of 2,138 homeless people in the City of Vancouver. As far back as 2010, more than 18,445 renters and 10,195 owners were spending at 50% to 99% of their household income on shelter costs in the City of Vancouver. The average cost of rent has now gone up to more than $2000 for a one-bedroom apartment. We need bold, immediate, and realistic solutions from to start building the thousands of additional units of guaranteed affordable housing we need annually.
OneCity believes those who have passively made enormous wealth off of the housing bubble should pay their fair share to help fix it. We’ll require real estate speculators and the wealthiest landowners start giving back through fair surtaxes and other revenue-generating policies. In addition, we'll roll out inclusionary zoning across the city to ensure that space in all new developments over five units will be set aside to create affordable housing and vibrant community spaces.
All the revenue earned through these new policies will be put to use immediately developing under-utilized publicly-owned lands, creating housing for the homeless, supporting and expanding existing co-ops, and building new guaranteed affordable non-market units. We’ll also ensure existing rental units are protected and maintained, and that building owners upgrade their properties with the highest degree of care.