Metro Vancouver plays a vital role in the region by collaboratively planning for and delivering regional-wide services to 21 municipalities, one treaty First Nation, and one electoral area. Recently, the area has seen robust growth and an aging housing stock. Most notably, housing availability and affordability remain challenging with vacancy rates below 1% for many municipalities.

The region’s aging stock, combined with the very high demand for rental housing, has led to an increase in redevelopment and renovation in recent years. While these activities are important for maintaining and renewing the existing rental stock, they can put tenants at risk of displacement.

As buildings age and operating agreements expire, many non-market buildings may need significant upgrades or even complete redevelopment. Therefore, it is crucial to ensure that alternative affordable housing options are made available to existing residents that respond to residents’ preferences and needs as much as possible.