Is transit-oriented development a solution to the housing crisis?

Good morning,

And a not-so-good morning to the author of the New York Times story that claims people in British Columbia refer to our province as “British California.”

I mean, seriously? This is not a thing and never will be… Mind you, if we were to get some of their sunlight, it would be a fair trade.

Putting aside this slight that no one in our province will soon forget, the story is well worth a read, exploring the scale of the crisis we faced this year.

In today’s newsletter we’ve got:

• 🏠 A new way to address the housing — and transit — crisis

• 💸 Grilling grocery store CEOs (no, not on the BBQ)

• 🔴 And a motion to expand red-light safety cameras

Let’s get to it

— Geoff Sharpe, Vancity newsletter writer

HOUSING

Is transit-oriented development a solution to the housing crisis?

Is Canada missing out on a huge opportunity to build more housing next to public transit? That’s the argument made by the Canadian Urban Transit Authority in their new report titled Housing on the Line.

What happened: The study sought to understand how housing and transit policy could work together to improve the quality of life for Canadians, with a focus on how to increase housing density and ridership on transit.

• The report outlines how land near transit stations is expensive, so only more expensive housing gets built, but those who rely on transit aren’t the ones purchasing the homes.

Background: I’m not breaking any news here by saying housing prices are out of control. Transit organizations across Canada are also dealing with lower ridership since the pandemic, though Vancouver itself has recovered far faster than others.

Solutions: The study identifies five potential solutions. The biggest of which is creating more transit-oriented developments, where communities are built around access to transit, within 800 metres of a major transit corridor. This can be done by provincial governments, making it easier for municipalities to purchase lands for transit-oriented development. It could also include expanded land appropriation by municipalities, especially if land is not being used.

Another solution is to give transit authorities more power to plan out the areas around which they purchase land, such as developing land at key transit sites.

• The report notes that Metro Vancouver launched a Real Estate Development Program to generate more revenue to build more housing.

The problem? With so many different levels of government responsible for transit and development, as well as different funding sources, creating these types of communities is a challenge. Finding the resources necessary to purchase the land, especially with cash-strapped transit agencies, may also pose a problem.

What it means: All of this is a good idea. As Dan Fumano in the Vancouver Sun notes, there’s been a precipitous drop in development site purchases by developers, meaning less housing supply in the future. With interest rates so high, private-sector builders are reticent to incur such high costs. Cities need an alternative way to build more housing, and this paper outlines some solutions.

• Dig deeper: Check out the entire report, along with additional recommendations.

VANCOUVER NUMBERS

🚢 1.25 million: The number of cruise ship visitors to Vancouver this year, up 54 percent from the previous year. This is good, or bad news, depending on how you feel about the cruise ship industry. [CityNews]

🏒 $100,000: How much a Canucks fan won after Brock Boesner scored four goals, which unlocked the second prize in the Save-On-Foods home-game giveaway. [CityNews]

❄️ 0: The low-temperature forecast for this weekend. Time to get those toques ready! [Daily Hive]

🍺 10th: Vancouver’s rank in terms of how many bars are within one mile of the Rogers Arena. [Business in Vancouver]​​

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AFFORDABILITY

BBQ grilling: no, committee grilling: yes

You aren’t the only one tired of higher grocery store prices. So is the government!

What happened: The federal government has called back the heads of Canada’s grocery giants to grill them at committee on what they’re doing to lower food prices, according to CityNews.

• It comes after the companies said they had plans to do so, but have not provided any concrete details.

The federal government has threatened to tax the grocery store giants if they don’t reduce prices, through more competitors and hold grocery stores accountable for their retail pricing.

In Vancouver: As food prices have skyrocketed, so too has food bank usage according to CityNews. CityReach Care Society, which provides food hamper programs, said demand has skyrocketed. Five years ago the Greater Vancouver Food Bank supported 7,000 people a month. Now that number is 17,000, according to CityNews.

• The province announced back in August that they were providing an additional $15 million to food banks, according to Business in Vancouver.

Yes, but: According to CBC, the largest food banks in the country are sitting on $169 million in cash and investments, mostly due to an increase in savings during the pandemic. So, while they aren’t necessarily struggling right now, that could change as food costs increase.

• The reserves in Greater Vancouver stood at just under $25 million in 2022, compared to just over $7 million in 2019.

What it means: The decision by Ottawa to go after food giants like this reflects the reality of the situation — that food prices are a real political issue that needs to be dealt with. It’s part of a more combative stance by the federal government when it comes to the issue they’re prioritizing. Just look at housing, where the government has started to pick fights with cities that fail to bring in policies to increase the housing supply.

QUOTE

“Housing seems to be the only class of investment where people who invest in it have this assumption that they should never face a loss… If a bunch of shareholders were to go to the government and say, ‘Well, the value of our shares have gone down and we’d like public funding to make up for it,’ I think they’d get laughed out of town.”

Robert Patterson, lawyer and tenant advocate with BC’s Tenant Resource and Advisory Centre, discussing a proposal by BC Landlord Rights, a landlord lobby group, to allow them to charge more for rentals and evict tenants faster. [Urbanized]’

DREAM HOME

A penthouse? For this price? In Kitsilano?

Now before you get too excited, the place is only one bedroom and is 662 square feet. This is of course Vancouver we’re talking about. But the unit is gorgeous, with a big patio, views to die for, and a very modern kitchen.

See how much this one-bedroom loft penthouse will set you back.

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

One person died on Monday after a boat capsized near Vancouver’s Pacific Spirit Park. There was no sign of the vessel, but they did find one person who was pronounced dead. [The Progress]

Coun. Christine Boyle will bring forth a motion next week to expand speed and red light safety cameras at intersections with high rates of collisions. If council votes in favour, they would have to ask the province to install them. Currently, there are 44 intersections in Vancouver with them. [Urbanized]

Your Uber ride may get more expensive. Council will be discussing potential increases as part of a plan to balance the budget in December. Fees could increase by about $0.60 per trip. [Urbanized]

It’s tough times to be a student. Many are finding it impossible to find a place to stay while at school due to the housing crisis. [Vanouver Sun]

As prices rise, a new poll says that 62 percent of residents are beginning to question the cost of the carbon tax. With that said, 71 percent are concerned about climate change, up by eight percentage points from 2020. [Business in Vancouver]

Remember that truck that hit an overpass in North Vancouver? They still can’t find the driver who drove the vehicle. [CityNews]

West Vancouver council will debate a zoning change next month to preserve purpose-built rentals. The bylaw would prevent 31 rental apartments in Ambleside from being turned into strata condos, with the goal of preventing renovations. [North Shore News]

Landlords are calling on the government to allow higher rent increases, increase unit prices to market rents even if they’re occupied by long-term tenants and make it easier to kick out tenants. Something tells me the government will not be doing this! [Urbanized]

GIVEAWAY

Love fairytales? How about Mozart? Opera?

If you answered yes to any of these, you’ll love Magic Flute, a new performance from the Vancouver Opera. Here’s the description:

“Armed with an enchanted instrument, Tamino rescues the kidnapped Princess Pamina, and the pair face trials, tribulations, and the wrath of Pamina’s mother, the vengeful Queen of the Night. But like any great fairytale—and this is among the greatest—light triumphs over darkness, and the young pair chart a path towards wisdom, truth, and love.”

You can win two free tickets to this event. All you have to do is refer a new subscriber to the Lookout. Every person you refer increases your odds of winning.

Use this special URL and enter to win: https://www.vancitylookout.com/subscribe?ref=PLACEHOLDER

GOOD NEWS

Good news in Vancouver’s biotech community. A drug that helps repair damaged spinal cord injuries is getting a fast-track designation from the US FDA, according to Business in Vancouver.

VIDEO OF THE DAY

I am so glad this smooth-jazz soundtrack video of the opening of the Expo Line exists. Honestly, watching it made my day.

COMMUNITY HIGHLIGHTS

• The city has launched a survey to shape Gastown, including input on the pedestrian pilot program planned in 2024.

• Productivity in 30 seconds! Get success stories and tips that boost efficiency with ProductivityGlide's 30-second email. Subscribe here.*

• BC Wines has launched an initiative to recognize community heroes who stepped up during the wildfire season. Nominate them today!

• Congrats to local Vancouver author Kim Spencer whose book Weird Rules to Follow won multiple awards at the Canadian Children’s Book Centre English language awards. [Georgia Straight]

• If you like all-thing-transit, be sure to check out TransLink’s podcast. [TransLink]

• This Vancouver woman is bringing a bit of joy to people’s lives with some outrageously funny costumes. [The Star]

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GAME TIME

Today’s Vancouver Guesser is another intersection. Can you guess the neighbourhood or the intersection? Reply with the correct response and your name to be featured in the newsletter.