Tenant Relocation Policy
One of the ways the City aims to maintain a mix of housing choices that are appropriate and affordable for residents at various stages of their lives is to encourage an increase in the supply of purpose-built rental housing. Housing that is permanently rental in tenure offers residents the benefit of knowing their home will not be sold to a new owner who may choose to live there, forcing the renter to find new accommodation.
The City’s Official Community Plan, adopted in October 2017, requires that when an existing rental building is redeveloped, that at a minimum each rental unit must be replaced in the new building (Policy 11.2.1.f). In areas on either side of the Town Centre area (the ‘Town Centre Transition’ area), the City incentivizes the creation of additional rental housing supply by allowing developers to build 40% more floor area if half of that additional area is used for rental housing.
Tenants in buildings that are proposed for redevelopment are supported through the City’s new Tenant Relocation Policy, which obliges developers to provide enhanced communication and financial assistance to existing tenants beyond the minimum requirements of the Residential Tenancy Act, and also give existing tenants the first option to move back into the new building at reduced rates.
There are several projects in process adding to the City’s rental housing supply. These include:
- 28 apartment units in a four-storey building under construction at 1293 Best Street;
- 16 apartment units (out of a total of 126 units) in a 13-storey building currently in the sales phase at Finlay Street and Russell Avenue; and
- 12 apartment units (out of a total of 29 units) in a six-storey rezoning proposal at 1456 Johnston Road, which will be considered by Council at a Public Hearing in September 2018 (the remaining 17 units would be rental for a minimum of 10 years).
Other approved projects that provide a specialized form of rental housing to add to the mix of housing choices include:
- 198 independent living units under construction at 1575 George Street (PARC Oceana); and
- 82 units of assisted living and memory care at 15385 Semiahmoo Avenue (First United Church).