Affordable purpose-built rentals & co-op motion: passed!
Too many renters in Burnaby live in unaffordable, insecure rental housing because we haven’t been building purpose-built rentals since the 1970s. At last night’s council meeting, BCA Councillors (Pietro Calendino, Sav Dhaliwal, James Wang & myself) put forward a motion to incentivize more new purpose-built rentals & co-ops.
When someone owns a unit & rents it out, they have the right to take the unit back if they sell, or if they/a family member wants to live in it. This leads to uncertainty for renters, a fluctuating supply of rental units, & increased costs.
We need more rental units that stay rental.
We also need rentals with a mix of affordability levels, & rentals that are built in missing-middle housing. The motion directed staff to prioritize tools that tie incentives to affordability—ensuring the renter gets a break—and to build them in more diverse types of housing.
Finally, we know that despite being a secure and affordable type of housing for lower and middle income folks, co-op units haven’t been being built. The motion also directed staff to look at ways we can help co-ops be built, and maintained.
Full motion: bit.ly/3cxleEM