Vancouver's plan to increase rental housing by entering the landlord business itself is facing criticism from developers who argue the city will have an unfair advantage. Critics say the city, acting as developer, landlord, and regulator, won't operate on a level playing field with private companies in the sector. They suggest the city should incentivize private developers instead of competing with them.
A plan announced by the City of Vancouver to increase rental housing is facing some criticism by developers. As Aaron McArthur reports, people in the business of building housing say the city is giving itself an unfair advantage.The development sector is pushing back against Vancouver Mayor Ken Sim’s plan to get the city into the landlord business.
Tsur Somerville, a professor at UBC’s Sauder School of Business, argued the city would be better off leasing the land to a market rental developer. For its part, the city has pledged to work with the private sector to manage and operate the buildings.
HOUSING DEVELOPMENT VANCOUVER CITY GOVERNMENT PRIVATE SECTOR
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