Lack of Affordable Rental Supply In Vancouver an Ongoing Concern
The Canadian Rental Housing Coalition today signed a Canadian Rental Housing Charter outlining a nine-point plan to increase the supply of affordable rental housing across the nation. According to the release, the supply of new rental housing is failing to keep up with demand from a growing population. In Metro Vancouver there is an estimated demand of 6,500 new rental units per year, but there are only 600 are purpose-built annually.
This significant imbalance highlights the importance of maintaining the existing rental stock through such revitalization projects as ARC Development Group’s restoration of the 56 unit Lakewood Heights apartment building in East Vancouver. For full press release, see the following link below:
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