Posted on July 28, 2009
STIR program generating new rental units
Although barely five weeks old, the city’s Short Term Incentives for Rental (STIR) program, a key part of Vision Vancouver’s drive to generate more affordable and rental housing, is already producing results.
Almost 1,000 new rental units may be generated if all current inquiries under the program — designed to add to the city’s rental housing stock and stimulate development during the current downturn — are completed as proposed.
This update from planner Doug Robinson indicates about 50 market rental units already have development approval.