City Council has approved policy and zoning changes that will accelerate the delivery of rental housing in local shopping areas and low-density areas nearby.
The amendments to the Zoning and Development By-law and associated updates to the Secured Rental Policy will:
Streamline and shorten the approval process, and provide greater clarity and certainty on the types of new rental buildings that can be built by:
Using residential rental tenure zoning for the first time to allow 6-storey rental buildings in C-2 (commercial-mixed use) zones to proceed without a rezoning
Standardizing rezoning options for new rental buildings in some low-density residential (RS and RT) () zones around local shopping areas, including up to 5-storey market rental apartments and 6-storey apartments with 20% below-market rental or 100% social housing on arterial streets
New C2 Bylaw:
4.7.1 The floor space ratio shall not exceed 0.75, except that the Director of Planning may permit an increase in floor space ratio as follows, provided the Director of Planning first considers the intent of this Schedule and all applicable policies and guidelines adopted by Council:
(a) for all uses combined, up to 2.5, provided that the floor space ratio for non-residential uses on the first storey facing the street must be at least 0.35;
(b) for multiple dwellings, up to 2.15; and
(c) for the purposes of subsections (a) and (b), an artist studio shall be deemed to be a dwelling use.
4.7.2 Despite section 4.7.1, if a building is a residential rental tenure building, then the floor space ratio is as follows:
(a) for all uses combined, up to 3.5, provided that the floor space ratio for non-residential uses on the first storey facing the street must be at least 0.35;
(b) despite subsection (a), up to 3.7 for all uses combined, provided that: (i) the floor space ratio for non-residential uses on the first storey facing the street must be at least 0.35, (ii) the site is a corner site, (iii) the length of the front property line facing the street measures a minimum of 45.7 m, and (iv) the site has a minimum site area of 1,672 m2 ; and
c) despite subsections (a) and (b), the Director of Planning may permit an increase in floor area of up to 0.05 FSR for exterior circulation located above the first storey.
4.7.3 All floors of all buildings, including accessory buildings, both above and below ground level, to be measured to the extreme outer limits of the building, shall be included in the computation of floor space ratio.”;
#rentaldeveopment #redevelopment #rentalpolicy #securerental #SecuredRentalPolicy #vancouverrealestate #cre #commercialrealestate #C2zoning #rlpcommercial #rlpcommercialvancouver #royallepagecommercial #kingsway
Contact us for more information
Interested in properties with this potential:
For Sale : 2117 Kingsway, Vancouver, BC
$8,999,000
