Vision rental program STIRs up interest
The latest update on the Short Term Incentives for Rental program, approved by council justthree and half months ago, is on track to produce at least 400 units and perhaps as many as 1,700 by the end of 2010.
A memo circulated to council this week reports that 30 proposals, about one-third of them downtown or in the West End, have come in since the program was launched. Five, with 383 units, have strong potential for early approval. Others require a longer rezoning process. The units would remain rental for 60 years or the lifetime of the building, whichever is longer.