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Vancouver council approved new policies designed to curb land speculation and limit condo developments along the Broadway corridor.

On Wednesday, council adopted a new measure called the development contribution expectation (DCE) intended to limit land values in anticipation of the arrival of the Millennium Line extension to Arbutus Street.

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It also adopted an interim rezoning policy that’ll be in place during the two-year planning period for a comprehensive Broadway plan.

“There’s lots of pressures here,” said Mayor Gregor Robertson. “We don’t want to repeat the mistakes past councils made in not doing the planning work in advance of the Canada Line and some other lines.”

The Broadway plan covers the area from Clark Drive to Vine Street and from 1st Avenue to 16th Avenue., a regional economic powerhouse that’s home to close to 70,000 jobs.

Staff told council the goal of the interim rezoning plan was to send a strict message that affordable social or supportive housing will be prioritized.