Moratorium Placed on Downtown Vancouver's New Construction

In May 2009 City Hall placed a moratorium on Downtown Vancouver's new construction. This Vancouver neighbourhood consists of a 17 block area from Stanley Park (2000 block) to Cambie Street Bridge. The City recommended a much wider section of the Downtown core be preserved for business-only, with some exceptions. 

If a mixed-use part condo development can help preserve a heritage site of residential hotel, or if it's a particularly large site, then council can consider permiting it. 

The new area will cover about 15% of the Downtown peninsula, extending east and west from the Commercial Business District core that exists now.

This policy is intended to guide Downtown development for the next 20 years. But then, maybe not. The City could still end up raising height limits in various parts of the Downtown where residential is still allowed. We don't know yet what mix of office and residential planners will recommend for the next big build-out in Downtown, Northeast False Creek.

As the population of Vancouver continues to grow and the supply becomes more limited, this will place upward pressure on prices over the long run.

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