City of Vancouver to relax rent limits to push approved projects to construction

The Moderate Income Rental Housing Pilot Program (MIRHPP) was created in 2017 to provide affordable rental housing to households with annual incomes between $30,000 and $80,000. 16 projects with a combined total of 2,975 rental homes, including Molnar Group's Renfrew Apartments, have been approved under the MIRHPP stream. However, due to rent limits that do not keep up with the escalating housing market, only 9 projects with a combined total of 1,082 rental units have been able to move forward into construction, with no projects having reached completion yet. City staff are now