BCBusiness

June 2017 Fed Up With House Prices?

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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BCBUSINESS.CA JUNE 2017 BCBUSINESS 23 end and to homebuyers only. So building rental housing and more aordable options for the so-called missing middle or the generation squeeze, the young generation that's wanting to either nd a family-size rental or to buy a rst-time home, we need to pay attention to that. That is the future of the city, and that is the workforce that's going to be working in the creative economy. What are you doing to sim- plify development approval? One is, how do we simply speed up the permitting process. I'm launching a regulatory review process in this coming year which will look at this hoary thicket of regulations in Van- couver that's been built up over time. Particularly if we want to keep up with the need for aord- able housing, we have to nd ways to expedite some of that. The other piece is that the Van- couver development system is almost addicted to this notion of individual property rezonings as opposed to doing that through larger area plans. It's very cumbersome, time-consuming and opaque both to developers and to neighbourhoods. One of the shifts I'm trying to make is to have that system be more uniform across districts, be done at the time they do an area plan and be much more xed-rate developer contributions. How is Vancouver like and unlike other West Coast cities? All are highly prosperous, politically progressive, highly livable and therefore attractive for new people moving here, for the young generation of workers and entrepreneurs. The other piece they share is an aordable housing crisis. That's the Achilles heel of all of these great cities. In some ways Vancouver and Portland share a similarity of neighbourhood patterns and are both strug- gling with what inll growth looks like. They share also a high degree of civic investment in the future of their cities. Vancouver and San Francisco share a more internationally recognizable kind of skyline, an international population and a presence on the water. Vancouver and Seattle are so close that they're almost becoming one economy. That's something that Vancouver can benet from, but it still needs to nd its unique identity. Some of that uniqueness is going to come from homegrown innovation. The congestion and the housing prices and the sprawling nature of the Seattle metro area are going to make Vancouver very attractive for a lot of the innovation folks. I think Vancouver is the next great place here on the West Coast. I really do. City of Vancouver building permits (2016) Assembly buildings: 319 Institutional: 39 Residential: 3,033 Business/personal services: 1,032 Shops/markets: 304 Industrial: 160 Miscellaneous: 87 Demolitions: 819 Salvage/ abatement: 322 TOTAL: 6,115 NOW NOW NOW NOW NOW NOW NOW YOU CAN'T BE AN EXPERT AT EVERYTHING. THOUGHT LEADERSHIP bcbusiness.ca/thought-leadership Patch the holes in your business by joining us at our monthly thought leadership events… Where business experts lead an intimate private education session designed to show you how to solve what keeps you up at night.

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