58,000 new homes now in the development pipeline or under review in City of Vancouver

Vancouver's net new home completions for the first year of the provincial Housing Targets Order fell short by 26%, totaling 4,143 units against a target of 5,202. This includes 3,745 rental homes, 1,457 ownership homes, and 104 supportive housing units. City staff anticipate a significant increase in completions over the next five years, projecting 33,700 homes by 2028, surpassing the target of 28,900. Currently, about 58,100 homes are in the development pipeline, with various factors influencing construction pace.