METRO VANCOUVER — Metro Vancouver has announced it has finalized , through Metro Vancouver Housing, that will create thousands of new non-market rental homes over the next decade.
The plan is in direct response to the region’s persistent affordable rental housing shortfall.
The previous 10-year plan was adopted in 2019. Since then, construction or redevelopment of about 2,000 units has been started or completed across 11 sites, a release notes. This includes a combined 172 new homes completed at in Vancouver and in Surrey that welcomed their first residents in 2025. Across the region, a further four projects are under construction, five are in the design or approvals phases and 12 major building renewal projects are underway.
While this is positive news, the release states, “political, planning and funding landscapes have shifted, requiring an updated approach. Enter a new 10-year plan that sets the path forward to provide, preserve and expand non-market rental housing across the region.”
In 2025, the showed a need for 29,250 to 54,500 affordable rental units for low- to moderate-income households over the next five years.
The new plan sets the goal of adding at least 2,000 new and redeveloped homes over 10 years (growing the portfolio by about 50 per cent). It also establishes targets for unit sizes and types that prioritize family-sized units, affordability levels, accessibility and climate performance.
Metro Vancouver Housing will invest at least $150 million over the next decade to support renewal and expansion plans, using operating surpluses and a $5-per-household annual tax requisition, the release adds. The investment will also be leveraged through partnerships with the federal and provincial governments and municipalities.
As one of B.C.’s largest non-profit housing providers, Metro Vancouver Housing has 49 active sites across the region.
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