The creation of affordable housing is one of the most important issues facing Vancouver, and the location is almost as important as the cost. Location can determine the form of transportation - such as walking, biking, or public transit - that a person can access to get around the city. Currently, a large proportion of Canada’s greenhouse gas emissions come from private automobiles used by people to travel from home to work, school, and errands. The most important thing cities can do to reduce carbon emissions is to ensure that people can walk, bike, or take transit to work and school.
Getting around Vancouver is expensive. Low-income Vancouverites often spend more than 50% of their income on housing, leaving little for other necessities such as transportation. Living close to a transit hub makes life easier and more affordable for people, but these locations are often very expensive. OneCity wants to ensure there is affordable rental housing around transit hubs.
OneCity plans to act quickly to create complete, mixed communities around transit hubs and corridors. Equitable, Transit-Oriented Developments (eTODs) will ensure low and middle-income housing is built close to developing transit hubs.
ONECITY’S PLAN TO CREATE AFFORDABLE HOUSING AT TRANSIT HUBS:
- Every Neighbourhood for Everyone plan will help make it easier to build affordable housing across the city, in every neighbourhood.
- Our Land Value Capture Tax will decrease speculation on property around transit hubs as it provides a new stream of revenue for housing and transit projects.
- Use city owned land adjacent to transit hubs to build affordable housing, in partnership with the Provincial and Federal Governments.
- Build a land acquisition fund for loans to non-profits and community land trusts, with the City of Vancouver purchasing lands around transit hubs.
- Leverage and make available municipal, provincial, and federal surplus and under-utilized lands for Equitable Transit Oriented Developments (eTODs).
- Provide development charges, levy waivers, density bonuses, expedited processes, and parking reductions to encourage Equitable, Transit-Oriented Developments.
Create social and rental only zoning for eTODs by setting the quantity and quality of housing targets. For example:
- 100m away – 100% rental/social housing
- 200m away – 20% market strata and 80% social housing
- 500m away – 30% high income market strata, 30% medium income market strata, 30% medium income rental, 10% low income rental
- 800m away – 60% market strata and 40% rental/social housing