Why an industrial land shortage is a real problem in Vancouver

Good morning,

If you were wondering why the didn’t email arrive on Monday, it’s because we forgot to mention on Friday that we weren’t publishing due to Remembrance Day. Apologies for that!

But I’m glad I returned today because it means I can share with you this hilarious clip about a Price is Right trip to, and I’m not kidding, New Westminster… To say the contestant was not happy would be an understatement. 

“Take in scenic water and boardwalk views at this boutique hotel located nearby popular arts spaces, shops and restaurants,” is how they describe it, which really could be almost any town on the water!

But enough of making fun of non-Vancouver cities. In today’s newsletter we’re covering a new policy to deal with the lack of industrial land — it may sound dry, but it’s important — and some polling that may worry the mayor.

Let’s get to it!

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WEATHER

Wednesday: 7 🌡️ 2 | 🌧

Thursday: 8 🌡️ 2 | 🌤️ 

Friday: 11 🌡️ 6 | ☀️ 

DEVELOPMENT

Why an industrial land shortage is a real problem in Vancouver

Imagine a building being used for multiple purposes. Not a novel concept, but for industrial developments, it may hold the key to unlocking more industrial land.

What happened: A report presented to council yesterday argues that Vancouver needs to update its industrial land policy, to allow mixed-use and multi-story buildings, according to the Vancouver Sun. 

Background: It’s not controversial to say industrial land in Vancouver is facing a crisis. The shortage of this type of space means fewer jobs and lost revenue as businesses leave the city to set up shop in more affordable places, according to Global. The cause? Demand has grown, but just like the rest of Vancouver, supply has not kept up. Average rents have also risen to the highest amongst metropolitan areas in Canada. 

• There are only seven industrial land areas in Vancouver, much of it located in East Vancouver, as you can see in the image above. 

The details: The policy would seek to protect current lands, expand intensification through multi-story development and prioritize industries that produce products.  

The plan would see building usage broken up, with different uses on different floors of industrial buildings, including artist studios — which are also in decline — healthcare clinics and technology offices just to name a few. According to the report, specific professions that are limited in these areas would be removed and expand density. It also helps limit the potential loss of industrial areas. 

• Areas that could see the biggest changes include Railtown and South Vancouver near Marine Drive SkyTrain station.

What it means: The housing crisis is an interconnected issue that impacts everything. Without enough commercial land, there are fewer high-paying jobs so people can live and work in their community. Addressing this issue has to come with addressing the overall housing crisis.

One other thing: The report also includes an interesting survey of technology companies. Most said they chose their location to work because of access to walking, cycling and transit for workers. Bucking a trend of remote work, only 17 percent said they planned to shift to entirely or almost entirely remote work. 

VANCOUVER NUMBERS

📈 $2,872: The average price for a one-bedroom in Vancouver in October, the highest in Canada. A two-bedroom was $3,777. [CBC]

⚡ 190,000: The number of households without power in BC after the big storm this weekend. There were also 60 cancelled ferries. [CBC]

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CITY HALL

Polling shows good news and bad news for mayor

What happened: A new poll on the performance of Mayor Ken Sim shows that while the he may still be enjoying a honeymoon period, there are some storm clouds on the horizon.

The good: In a poll reported by Business in Vancouver, 51 percent of respondents approved of Sim’s time as mayor, with 29 percent disapproving and 21 percent undecided. Of those who voted for him, 73 percent continue to support him. 

The bad: The poll showed 42 percent of respondents who voted for Sim felt things had gotten worse in the last year, which at only one year in, is not encouraging. 

The ugly: The poll shows that no matter the age demographic, almost all age groups agree, by a wide margin, that housing is the number one issue at 48 percent overall. Second place was the drug overdose crisis at a distant 12 percent, and third was crime at nine percent. 

• Even more discouraging for Sim is that 60 percent think that housing affordability has gotten worse since he was elected. 

Zoom out: It’s not just Sim dealing with a challenging housing file. A poll in October, according to CityNews showed that 82 percent agreed that the provincial BC NDP were performing poorly on housing affordability.

• It’s interesting to note the different responses between each group. Arguably, Sim’s policy response to the housing crisis has been less bombastic than the BC NDP, with more tweaks around the edges.

What it means: There is no doubt that Sim is dealing with a range of challenging files. As CBC’s Justin McElroy reported during his interview with Sim, all these major issues are trending in worse directions. 

• One big challenge for Sim is that while he’s taken what many perceive to be strong action on crime by hiring more police and breaking up the tent encampment, it’s nowhere near the most important issue facing residents, according to the poll. 

Thought-bubble: While I’ve reported many of the housing policies they’ve worked on, the fact you are reading this means you’re an outlier as most people are not paying attention (though I commend you for reading this since so few people follow municipal issues). Breaking through on these issues will continue to be a challenge.

DREAM HOME

One area of Vancouver that I increasingly think should get more attention is Hastings-Sunrise.

And this townhouse is a real winner in the area. With more than 1,200 square feet, this two-bedroom plus den and two-bathroom place makes great use of its space, with well-laid out bedrooms, a decent-sized living room and a little patio out back that’s sure to please anyone.

While the price is reasonable for a Vancouver townhouse, it’s not actually reasonable for most buyers sadly. 

House of The Week is a home selected by the Lookout team and is not a paid advertisement. All ads are labeled as such. If you’re a realtor who wishes to feature your home in our newsletter, please contact our sales team. 

THE AGENDA

👮 High-risk sex offender Randall Hopley, who fled from his Vancouver halfway house, was arrested yesterday near Main and East Cordova after a Canada-wide warrant was issued for his arrest. [CBC]

🥳 Residents who live near a park at Richards and Smithe are complaining about ongoing parties in the park. The Parks Control By-law says they’re aware some people are not using the parks during the prescribed hours. [Global]

👎️ If you’re going to commit short-term rental fraud, maybe be more careful? A company called Cycer Investments posted on Craiglist promising people money if they registered their primary address at one of their Airbnbs, allowing the company to circumvent the upcoming short-term rental restrictions. Housing Minister Ravi Kahlon took to Twitter to say these people will get caught. [CityNews]

🛫 A bomb threat caused a flight heading to Vancouver from Los Angeles to be diverted to San Francisco. Afterwards, it was determined it wasn’t a serious threat. [CityNews]

🏀 Get out those Grizzlies jerseys because basketball may be making a comeback to Vancouver! Well, not exactly, but NBA commissioner Adam Silver noted that Vancouver could be a potential expansion city. [Complex]

🧒 Another day, another daycare killed by Vancouver planning staff... Grids Vancouver pointed out that an application to build a daycare on Matapan Cres. near Renfrew Heights neighbourhood was denied last week. [Twitter]

💉 People who relied on safe supply provided by the since-shut down Drug User Liberation Front are speaking out about having to turn to more unsafe supply to deal with their addiction. [The Tyee]

🏘️ Will mass upzoning of land in BC through duplexes and laneway homes increase supply? Experts in the US explained why this may not happen, with pickup in places that adopted this policy being very slow. [CBC]

CITY HALL

Who's up, who's down this week

Our new regular series looks at the key people and players at Vancouver city hall who we think are trending higher or trending lower. It’s not scientific (yet) and we hope to include more key people’s opinions in future ones. For now, it’s just my thoughts.

VIDEO OF THE DAY

Here’s a useful breakdown of the province’s new housing strategy around SkyTrain station.

COMMUNITY HIGHLIGHTS

• Congrats to Tamam: Fine Palestinian Cuisine who have raised thousands to help those suffering in Gaza. [The Tyee]

• Want self-growth insights but sick of hustle culture? Check out The Boonly, the Sunday newsletter for anyone craving a spark of wholesome curiosity. Sign up for free here.*

• If you live in downtown Vancouver during the summer, you may have noticed the regular massive flock of crows leaving. [Reddit]

• A test of the Alert Ready system tomorrow at 1:55 pm will mean an alert on your phone. [City of Vancouver]

• Here is how free community fridges are helping fight food insecurity in Vancouver. [Georgia Straight]

• Want to have your announcement featured? Learn how here.

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GAME TIME

Today’s VancouverGuesser is another big intersection. Do you know where it is? (I think this photo was taken during a bad smog day).

Reply with your name and the correct answer to be featured in the newsletter.

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