BC’s largest organization representing the development industry is calling on both provincial and municipal governments to take further action to improve housing supply in the province. In a response to yesterday’s announcement that the BC legislature will sit this summer to amend the Vancouver Charter and allow the city to implement a vacancy tax on homes left empty for 12 months or more, the Urban Development Institute (UDI) urged both levels of government to further increase housing supply by making changes to zoning bylaws and reducing processing delays.
“Taxes alone will never solve our affordability problems” said Anne McMullin, president of UDI. “We need stronger zoning for more homes, particularly near transit lines. We need to build more supply for families, for first-time buyers and for renters.”
The provincial government recently released data showing that 69,500 homes in the province are pending a zoning, re-zoning, development or combined application.