In June, Vancouver’s City Council adopted an updated ten-year housing strategy and three-year plan, aiming to address the housing crisis with ambitious targets and comprehensive strategies. The plan, which spans from 2024 to 2033, builds upon the Housing Vancouver Strategy and integrates new elements such as the Vancouver Plan adopted in 2022, current provincial legislation, and evolving economic situations.
New Housing Targets and Three-Year Action Plan
The new 10-year housing targets, approved on June 25, 2024, seek to approve 83,000 net new homes by 2033. This plan is complemented by a three-year action plan running from 2024 to 2026, which includes over 50 specific actions organized around seven key areas:
- Housing needs
- Geographic equity
- Addressing homelessness
- Community housing
- Indigenous housing
- Rental housing
- Speculation
The Housing Vancouver Strategy, the Three-Year Plan and the City Council’s Strategic Priorities are designed to align so that all actions are interconnected and strategically targeted.
New Housing Targets
The ten-year target of 83,000 new homes includes a significant focus on increasing housing options for renters and families.
Rental Housing
75% of the new housing will be designated for renters, including non-market, below-market, and market rental housing.
Family Housing
Over 40% of the new homes will have two or more bedrooms, catering specifically to families. This includes purpose-built market rental units, laneway homes, and social housing with family-friendly configurations.
