After six months of efforts to meet the annual housing target, Vancouver has only reached 30 per cent of its goal. This news comes as a disappointment to many residents who have been struggling with the city’s housing crisis.
According to the latest report from the City of Vancouver, only 1,500 new homes have been built in the first half of the year, out of the 5,000 units that were projected to be completed by the end of 2021. This means that the city is falling behind its target by a significant margin.
The housing target was set by the City of Vancouver in response to the growing demand for affordable housing in the city. With rising housing prices and a shortage of available units, many residents have been struggling to find suitable and affordable housing options.
In an effort to address this issue, the city had set a goal of building 5,000 new homes each year for the next 10 years. However, the slow progress in the first six months of 2021 has raised concerns about the city’s ability to meet this target.
City officials have attributed the slow progress to various factors, including delays in the approval process, construction challenges, and the impact of the COVID-19 pandemic. They have also acknowledged that more needs to be done to speed up the pace of housing development in the city.
In response to this news, housing advocates have expressed their disappointment and frustration. They argue that the city needs to take more urgent and effective measures to address the housing crisis, such as increasing funding for affordable housing projects and streamlining the approval process for new developments.
Despite the setbacks, the City of Vancouver remains committed to meeting its annual housing target. Officials have stated that they will continue to work towards this goal and explore new strategies to accelerate the pace of housing development in the city.
In the meantime, residents will have to wait and see if the city can catch up and meet its target by the end of the year. The housing crisis in Vancouver is a pressing issue that requires immediate and effective action, and the city’s progress in the coming months will be closely monitored by all those affected by this crisis.
