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City of Vancouver plan looks to triple the number of homes in False Creek South

Click to play video: 'City of Vancouver releases proposal for major redevelopment of south False Creek land'
City of Vancouver releases proposal for major redevelopment of south False Creek land
There are mixed reactions to the City of Vancouver's proposal for a massive redevelopment of some of its most valuable waterfront property. Kamil Karamali reports – Oct 13, 2021

A report from City of Vancouver staff offers a new vision for False Creek South, potentially tripling the number of homes in the neighbourhood.

The report outlines a phased approach to developing the area, about 80 per cent of which is city-owned land with leases set to expire in the next 15 to 25 years.

Click to play video: 'Sawmill sparks Vancouver’s only five-alarm fire in 1960, destroying four blocks near False Creek'
Sawmill sparks Vancouver’s only five-alarm fire in 1960, destroying four blocks near False Creek

The first phase would see the number of housing units increase from 1,849 to 3,770. Another 2,875 units would be added in the second phase, bringing the total to 6,645, with a mix of one-third market strata freehold, one-third market rentals and a third non-market co-op housing.

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Funding for the development would come from the Property Endowment Fund and the Vancouver Affordable Housing Endowment Fund.

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A survey of False Creek South residents found that they wanted their leases extended, and also found broad support for increased housing and density, the report said.

Covering a stretch of land between the Burrard Street Bridge and the Cambie Bridge, False Creek South was transformed from an industrial area into a residential neighbourhood in the 1970s and is now home to approximately 5,500 people.

The report is set to be presented to city council on Oct. 21.

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