Things are looking brighter in Vancouver when it comes to affordable housing, but only just.
The county vacancy rate is 3.9 percent, the median rent has increased 47 percent since December 2015 and families need to make at least $53,200 to afford a two-bedroom unit.
But it seems the city’s multifaceted plan to tackle affordable housing and homelessness is on the precipice of working, according to an update presented to the City Council on Monday.
“Now we’re coming into more good news,” said Peggy Sheehan, the city’s community development program manager. “We have lots of units in the pipeline.”
There are 4,319 units in some form of consideration in Vancouver, meaning developers have paid at least the initial fee to have their project reviewed by city staff. That means they have paid money for the city to look at their project. Of those, 455 are income-restricted. Sheehan said the low-income housing projects are all either under construction or in the final permitting process.
The most significant solution to make an impact on affordable housing was Proposition 1, approved by voters in November 2016 to create a funding source for affordable housing projects and preventing homelessness. The Affordable Housing Fund generates $6 million annually for related projects through 2023. The fund has already allocated $4 million to help pay for seven housing projects and will soon allocate its first round of homeless prevention funding.
The council will spend $1.2 million to pay for two homeless prevention projects. Together, the projects will serve about 273 households. The council was scheduled to approve the contract Monday evening, but had to delay the vote because they lacked a quorum. Mayor Anne McEnerny-Ogle, Councilor Bart Hansen and Councilor Linda Glover were in attendance. A majority is required in order to conduct council business.
Once the contracts are approved, the Vancouver Housing Authority will receive $250,000 to provide rental assistance for 33 households and the Council for the Homeless will receive a total of $1.21 million. The Council for the Homeless’ award is being split between two years. They will receive $960,000 initially and an additional $250,000 when the money for 2018 is allocated later this year.
Once the prevention money is awarded, the 2017 affordable housing fund will have $300,000 to put toward additional shelter space. Sheehan said she will bring more information to the council soon in order to move forward.
As the city continues its work on affordable housing and homeless prevention, Sheehan said it’s important to continue the internal conversation about housing issues.
“This is really the first time over the last three years we are really talking about housing and homes in all other things we do,” she said. “We in the city of Vancouver are making a difference in both of those areas.”
