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Land, Market Research

City of Vancouver Releases Guidelines for Rezoning In TOAs

The City of Vancouver has released a report outlining proposed by-laws to implement rezoning policy under the Provincial Legislation: Bill 47 for transit oriented areas.

The proposed rezoning policy includes the following:

  • Land Use Framework: The rezoning policy generally follows the tiers identified in the
    TOA Policy Manual for heights and densities, with some minor adjustments:
    • For Tier 1 (200m, 20-storey inner ring), the density has been increased from a Floor
      Space Ratio (FSR) of 5.0 to 5.5 FSR
    • This also applies to certain RM-zoned properties in the Commercial-Broadway Station Precinct of the Grandview-Woodland Community Plan that are up to 400 m from the Station.
    • In all tiers, the policy will also support applications for low-rise market rental developments of 4- or 5-storeys, and 6-storeys with 20% below-market rental, which could be rezoned directly into existing rental residential (RR) district schedules rather than custom zones for each site.
    • Ground floor commercial required where it aligns with existing area plans, or on arterial sites within 400 meters of a station, otherwise at option of developer.
  • Tenure & Affordability: Proposals seeking to maximize height and density in all Tiers (20-storey,
    12-storey and 8-storey rings), will be required to:
    • Secure 100% as rental, with a minimum 20% as below-market rental; or
    • Deliver 30% as “turn-key” social housing.
  • Tenant Protection: The same enhanced tenant stability and protection policies approved for the Broadway Plan are included in the TOA Rezoning Policy.
  • Heritage: Properties may be limited in historic areas or for properties with an HRA. 10% additional density available for sites that retain, conserve or designate heritage on site.
  • Infrastructure: upgrades may be required and can be confirmed and/or implemented during the rezoning process.
  • Process: A rezoning enquiry will be strongly encouraged prior to submission of a formal rezoning application.
  • CACs: Residential rezonings opting to pursue TOA heights and densities enabled under the TOA rezoning policy would be expected to provide the required affordable housing (social or below-market rental) to achieve the identified height and/or floor space. For these rezonings, no additional cash CAC contribution or proforma review will be required as staff are recommending a CAC exemption for these inclusionary housing projects.

The full report, as well as individual TOA maps confirming parcels, can be viewed here: https://council.vancouver.ca/20240626/documents/cfsc1.pdf

June 20, 2024by david.taylor@colliers.com

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David Taylor Personal Real Estate Corporation

Colliers International

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David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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