BCBusiness

July/August 2024 – The Top 100

With a mission to inform, empower, celebrate and advocate for British Columbia's current and aspiring business leaders, BCBusiness go behind the headlines and bring readers face to face with the key issues and people driving business in B.C.

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28 S m all w o r k s B C B U S I N E S S . C A J U LY/A U G U S T 2 0 24 Vancouver's planning de- partment is not currently open at all to the idea of any change. Senior planner Paula Huber emphasizes that the province is currently suggesting that 72 percent of all new housing in Vancouver should be rental, which tells them that it's a bad idea to start giving away any already existing rental. "In an environment where we have that kind of target for rental, a program to allow homeowners to convert would not be high on our priority list," Huber says. She also notes that the city's current policy on allowing purpose-built apart- ments to be converted to rental is that it can't happen when the vacancy rate is below 3 percent. Vancouver hasn't had a vacancy rate that high in decades. But the province, currently undertak- ing one of the most energetic housing revolutions on the continent, is more interested. Housing Minister Ravi Kahlon says that, when he looks at other regions, it's clear there's huge potential for laneway houses, especially in California. "It's a big topic and this is only going to grow," he tells me. In Los Ange- les, where the city began permitting laneways (or what they call accessory dwelling units, or ADUs, down there) in 2017, new laneways now account for 20 percent of all construction. In Califor- nia overall, there were almost 50,000 completed in 2022. California, where ADUs are increas- ingly seen as a viable and important part of the solution to providing cheaper housing, passed new legislation in October 2023 allowing them to be sold like condos. That means some require- ments from the homeowners selling them (notify utility companies, form a homeowners' association to figure out costs that need to be shared), but noth- ing like hugely expensive upgrades to main houses in Vancouver. Tackling laneway reform isn't at the top of Kahlon's list at the moment, given the dozens of other initiatives on his plate, but it's definitely on his mind. Encouraging municipalities to allow smaller units to be built and sold is already part of the overall strategy in the new law allowing fourplexes everywhere. "We want to see those smaller units owned by families," he says. When the province has those other initiatives well underway, they'll apply that same lens to laneways, taking a look at what is fact and fiction in terms of safety upgrades needed. "That is still a home ownership opportunity." Your Market Just Got Bigger Export Navigator provides FREE localized export support for eligible businesses in B.C. Find an Export Advisor Today exportnavigator.ca/find-an-advisor FAST TRACK In neighbourhoods where building up isn't allowed, building back could be the move

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