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Veerman's View | MARKET NEWS | february 2022
Province prepares to remove housing approval powers from local governments
CBRE
In light of the housing crisis, the Province of British Columbia is making motions to assert its authority over municipal zoning and planning processes. This may be enormously significant for developments to achieve higher height and density, particularly for developments (1) on transit, and (2) in areas with existing height precedent like Downtown Vancouver. Although this is early in the process, the BC Provincial Government may look to the Province of Ontario for established precedent:
www.nationalnewswatch.com
The Province of Ontario established the Ontario Land Tribunal in June 1, 2021 (previously the Ontario Municipal Board and Local Planning Appeal Tribunal), an independent and impartial adjudicative tribunal, to which developers can object decisions of municipal zoning and planning authorities for Official Plans & Zoning Bylaws. British Columbia may look to setup its own impartial tribunal to ensure density and height is achieved in light of the current housing crisis.
 
In 2017, the Province of Ontario moved to block residents from challenging developments within 500 meters of transit station with the goal of boosting density near transit lines. British Columbia may look to introduce similar legislation to ensure high density development along the Broadway Corridor to protect their $2.83 billion investment.

This announcement is well timed with the City of Vancouver’s timeline to adopt the Broadway Plan in the coming weeks and may spur the higher density development at stations.

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Personal Real Estate Corporation
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robert.veerman@cbre.com
 
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