Vancouver's Housing Crisis: Stalled Projects & Affordability Woes

0:00New builds in downtown Vancouver and along the waterfront have basically stopped cold. City Development Director Chad Eiken told Council this week, there's not one large apartment or mixed-use project in the permitting pipeline right now. First time in ages, blame it on sky-high construction costs, high vacancy rates, and rin hikes that can't keep up with inflation. Developers say projects just don't add up financially, even with tax breaks like the multifamily exemption seeing zero interest. That means Vancouver's on track to miss its housing goals by 36% by 2045, when the population jumps by 81,000. Folks, officials warn it'll lead to fewer homes overall and probably push rents even higher down the line. Affordable housing is hurting too, with over 500 units waiting on state cash that Clark County just isn't getting enough of. Without more public subsidies, production stays stuck, and the deficit keeps growing amidst shocks like tariffs and labor shortages. But there's a flicker of light,

1:00with permit activity ticking up lately, and new policies slashing fees, speeding approvals and easing codes. If the city keeps cutting costs and streamlining rules, they can ramp up density and hit those growth targets. Vancouver News today, powered by AI bringing you what matters.