Public input needed on affordable housing crisis at Jan 17th meeting

Public input needed on affordable housing crisis at Jan 17th meeting

If we are serious about creating more rental housing we cannot afford to squander any more opportunities to create needed rentals in Richmond we are in a housing crisis. It’s Now or Never. You can have your say Monday Jan 17th at 7:00 pm at the Public Hearing, city council will decide on the 1341 unit Talisman project which has only 337 rental units Richmond has less than a 1% rental vacancy rate this is not acceptable. This project will support over 1,000 investors but what about all the people who need a home to rent ? Located close to the new Sea Island Canada line station this is a perfect location for a rental hub. This project could be a great opportunity for the Canada Pension Plan to invest in to provide long term revenue for the fund. CPP has been very focused on the residential sector globally and actively invested in multifamily condos for a long time, now is the time to contact them and other pension funds to potentially creative a win win solution.
Councillor Michael Wolfe and I also voted against the Richmond Centre Cadillac Fairview project because it will have 2,000 housing units and only 150 of those are low end rental homes, we feel it is better to let a development site sit empty than to build the wrong thing.
We NEED bold new ideas, we need a modern approach and we cannot waste such large tracks of land on more investment opportunities. According to the HOUSING NEEDS REPORT 2021 ” There is a strong demand for market rental…at least 2,000 units will be needed 2016 – 2026″. The Report also states ” BC Housing registry increased by about 40% from 2013 to 2020, ….the need for affordable housing will have grown to roughly 7,000 by 2026″. Your last chance to speak on this project will be at a public hearing potentially January 17th.
We feel that now is the time to build for the future, please support us.
Thank you,
Carol Day
Richmond City Councillor
If you want more information about our housing crisis in Richmond please read the HOUSING NEEDS REPORT 2021 on the Dec 9th Planning Committee Agenda and staff reports.

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