We asked PT readers to take a look at the overwhelming number of statistical goodies in the Housing Vancouver Data Book, detailed here, and personally select a tasty morsel. Like this chewy one from Vancouver City planner Sarah Ellis:
Two charts on p. 44 and 45 (Stock of Rental Universe by Building Age) give some interesting insight on the origins of our purpose build rental housing, which is still some of the most affordable rental in Vancouver.
You can see the golden age of rental construction was in the 50s-70s in our ‘multifamily’ neighborhoods – the West End, Kits, Mount Pleasant, and Marpole – with a subsequent plummet in rental construction corresponding with the introduction of the Strata Act.
We’re finally seeing the beginning of a potential catch-up thanks to new incentives and (most likely) rising rents making rental a viable product in the eyes of industry. Maybe in a couple decades, this housing will be a new iteration of today’s 1960s four-storey walk up.
The interesting thing is that many of these buildings are very much approaching the end of their service life … and in that they are currently a valuable source of affordable housing, if redeveloped to make good again, they will no longer be a source of that affordability. Ouch.