Burnaby is considering changes to its inclusionary rental housing policy to address concerns from developers about the rising costs of construction. The current policy mandates that developers allocate 20% of residential floor space in new projects for affordable rental housing. However, this requirement has slowed development, with some builders finding it difficult to move forward with projects.
To address this, city officials are proposing more flexible rules. These changes could include reducing the mandatory percentage or allowing developers to focus affordable units in certain areas. Burnaby hopes this will encourage more construction without neglecting the need for affordable housing options.
Critics of the proposal are concerned that easing these rules could lead to fewer affordable units being built. However, supporters argue that the changes will boost development overall, creating more housing opportunities in the long run. As Burnaby faces increasing demand for housing, the city is looking to balance affordability with construction feasibility.
The city council is expected to continue discussions on the proposed changes, with a final decision potentially impacting future housing projects and rental availability in the area.
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