Issues City Council Issues Rental Housing

Rental Housing

Polygon Talisman project approved last night: voting against Carol Day, Michael Wolfe and Chak Au. There will be 1,014 Strata condos for sale, only 156 affordable units and 171 Market rental units. The City of Richmond Housing Needs report of 2021 states that ” From 2006 to 2016, the number of renter households grew by 30% ( 14,520 to 18,895) about twice as fast as owners 48,835 to 54,475″. It also states ” affordability worsened considerably from 2006 to 2016, and is now widely considered a crisis.”
The Canada Pension plan has historically invested in multifamily projects and is an excellent example of modern new alternatives to more expensive condos. http://www.bnnbloomberg.ca/…/u-s-provides-a-large… provides a large market for single-family rental investments
Housing Minister David Ebby stated in a letter to council ” BC HousingHub works collaboratively with an array of industry groups to facilitate the partnership of suitable land, equity, low cost financing and development expertise to create new affordable housing.”
If you want new opportunities then you need to vote for a new council. I am sorry we did our best but could not convince the rest of council.

Thanks for your support
Councilor Carol Day
email: cday@richmond.ca