A new Affordable Housing Agency was approved by the city of Vancouver on July 9 to assist with the creation of low to moderate income housing in the city. The Vancouver Affordable Housing Agency (VAHA) will operate based on information from senior levels of government, public organizations and the best practices of other cities.

It will also:

• Collect data on vacant homes;
• Provide information on ways to limit unnecessary vacancies;
• Attempt to create 2,500 new affordable homes by 2021 and 500 within the first three years of establishment; and
• Focus on affordable housing for families.

“The Vancouver Affordable Housing Agency will be a key tool in the City’s efforts to create new affordable housing that meets the needs of local residents,” said Mayor Gregor Robertson in a statement. “As well, by designating it as a research hub to monitor issues such as vacant homes and excessive investor speculation, the VAHA will contribute to an informed, fact-based discussion of Vancouver’s housing market.”

The VAHA will consist of a council-appointed board, including community members with expertise in real estate, non-profit housing and tenant issues.