On November 26, 2019, Council approved amendments to the Secured Rental Policy. Our Secured Rental Policy encourages the development of projects where 100% of the residential units are rental. The policy will help us reach our goal of creating 20,000 new units of market rental housing by 2027.

How the Secured Rental Policy works

This policy encourages projects where 100% of the residential rental housing units are secured for 60 years or life of the building, whichever is greater. Eligible incentives include:

Development cost levy (DCL) waiver

Parking requirement reductions

Relaxation of unit size to 320 square feet (provided the design and location meet the City’s liveability criteria)

Additional density beyond what is available under existing zoning (for projects requiring a rezoning)

How the Secured Rental Policy leads to more affordable rentals

Affordability will be achieved primarily through tenure, since renting is inherently less expensive than owning. In addition, more market rental housing gives higher earning residents more options to choose from, lowering the pressure on demand for lower priced rental units.

Additionally, the Secured Rental Policy includes provisions for below-market rental housing in some cases. Under the policy, below-market rental units will serve households earning below $80,000 annually.

Learn more about the Secured Rental Policy

Apply to create rental housing through the Secured Rental Policy

Some of the rental housing development opportunities under the Secured Rental Policy require further work and additional Council approval prior to being open for new applications, as they rely on additional testing and refinement of locational criteria and the introduction of new rental tenure zoning districts schedules.

At this time, staff cannot provide advice on the eligibility of specific sites in low density transition areas (RS/RT), and new rezoning proposals in these areas will not be considered until new rental tenure zoning district schedules are in place.

New rezoning applications for rental projects in C-2 commercial zones will continue to be considered. However, it should be noted that staff are preparing amendments to the C-2 district schedules to enable new 6-storey rental projects in areas outside of recent or current community plan areas to proceed directly through a development permit process without going through rezoning.

If you would like to be notified on updates regarding the Secured Rental Policy implementation, please sign up for our mailing list below or contact us at housingpolicy@vancouver.ca.

In-stream applications and enquiries

For applicants with an accepted rezoning enquiry, application, or development permit application submitted prior to November 26, 2019, the applicant will have the choice to proceed with their application under either the new Secured Rental Policy or the applicable previous policy (either the previous Secured Market Rental Housing Policy PDF file (253 KB) or Affordable Housing Choices Interim Rezoning Policy PDF file (384 KB)).

New applications and enquiries

For applicants with a rezoning enquiry, application, or development permit application submitted after November 26, 2019, the new Secured Rental Policy will apply.

Process for applicants

Review these documents Rental Incentive Programs bulletin PDF file (441 KB)

For applicants under the previous Secured Market Rental Housing Policy or Affordable Housing Choices Interim Rezoning Policy, certain provisions stated in the previous Rental Incentive Guidelines document may apply; however, in-stream applicants should also review the new Rental Incentive Programs Bulletin, as certain new provisions may impact their application.