Affordable Housing and Support for Renters
April 9, 2018 (Vancouver, BC) A new City-run pilot program is supporting the development of rental units for individuals and families earning between $30,000 and $80,000 annually.
The Moderate Income Rental Housing Pilot Program is incentivizing the construction of rental apartment buildings where at least 20 per cent of the residential floor space is permanently affordable and targeted to households with moderate incomes.
The Empty Homes Tax declaration period for 2017 closed on March 5, 2018 with a total of 183,911 declarations submitted, accounting for 98.85 per cent of all residential property owners in Vancouver.
As this was the first year of implementation of the tax, the findings from the 2017 declarations provide an important baseline for the City to compare all future results and better understand how the tax is influencing the behaviours of property owners.