Vancouver announces housing development acceleration plan

The City of Vancouver aims to approve 83,000 new homes in the next decade, a 15% increase from previous targets. The updated plan includes 74% new homes for renters, 15,500 below-market rate homes, and 40% suitable for families. A Three-year Action Plan will implement over 50 actions, such as creating the city's first Official Development Plan and increasing density around transit stations. The plan also involves developing social and supportive housing on city-owned sites and partnering with the Province and CMHC to improve single-room-occupancy buildings.