Multiplex

In December 2023, the BC Government passed Bill-44, the Housing Statutes (Residential Development) Amendments Act, requiring municipal governments to allow Small Scale Multi-Unit (SSMU) development in most residential single family areas.

A policy manual that provides greater detail on the SSMU legislation can be viewed here.

Here is a summary of what will be allowed on each type of lot:

By June 30th, 2024, each municipality will be required to update their zoning bylaws to accommodate SSMU zoning.

What is your lot worth as a potential Multi-unit redevelopment?

While multi-unit zoning is still relatively new in Vancouver, there are already properties being bought up by builders and developers. Our team has unparalleled access to multi-unit lot sale data and are working with both Sellers and Buyers on SSMU lot transactions.

Please feel free to reach out if you would like to discuss sales comparables of multi-plex lots.

We specialize in working on behalf of single family owners to sell as multi-unit developments, and as land assemblies. If you are a property owner that would like to learn more about the potential multiplex value of your property, please reach out by email: david.taylor@colliers.com or phone: 604-761-7044.