Vancouver’s housing crisis is nothing new, but instead of tackling affordability head-on, Mayor Ken Sim and city officials have come up with a plan that raises serious ethical concerns. The city now wants to develop market rental housing on its own land—meaning it will become a landlord and profit off renters.
While the city frames this as a solution to the housing shortage, especially for middle-income earners, the reality is far more troubling. Here’s why this plan is deeply flawed and could make the crisis even worse.
1. The City Has a Financial Incentive to Keep Rents High
By becoming a landlord, the City of Vancouver is setting itself up with a direct financial interest in maximizing rental income. Instead of regulating rent to ensure affordability, they will now profit from rising rents, just like private developers. This is a massive conflict of interest.
If the city truly wanted to make housing affordable, it wouldn’t be trying to generate revenue from renters—it would be focused on keeping rents low.
2. "Market Rental" Does Not Mean Affordable
Despite how the city tries to spin it, market rental housing is not the same as affordable housing. It simply means that the rent will be set at whatever the market can bear.
Right now, Vancouver’s market rents are sky-high. Even so-called "middle-income" earners struggle to find a place they can afford. For lower-income people, seniors, and those on social assistance, these new rental units will still be out of reach.
If the city truly wanted to help, it would be investing in co-op housing, social housing, or rent-controlled units, not profit-driven developments.
3. This Won’t Lower Housing Costs—It Will Keep Them High
Some argue that adding more rental units will lower costs through supply and demand. But in Vancouver, we’ve already seen that this doesn’t work.
Developers have built thousands of new rental units in recent years, but they are mostly luxury units that keep prices high. Without strong affordability measures in place, this new city-run housing will likely follow the same pattern—adding expensive rentals that do nothing to help working-class and low-income residents.
4. Public Land Should Serve the Public—Not Generate Profits
The city owns the land where these towers will be built. Instead of using that land to create real affordable housing, they are choosing to act like a corporation, prioritizing profit over people.
If Vancouver is serious about solving the housing crisis, public land should be used for:
✅ Non-Profit or Co-op Housing – Affordable long-term solutions that keep rents low.
✅ Social Housing for Low-Income Residents – Ensuring vulnerable people aren’t left behind.
✅ Truly Affordable Rental Units – With rent caps to prevent gouging.
Instead, they’re treating renters as cash cows to fund other city projects. That’s not ethical.
What Can We Do?
If you’re a renter in Vancouver, you should be concerned about this. Here’s what you can do:
✊ Speak Out – Contact city council members and demand real affordable housing, not market-driven solutions.
📢 Spread the Word – Share this information with friends, family, and neighbors. The more people know, the more pressure we can put on the city.
📝 Push for Policy Change – Advocate for rent control, stronger tenant protections, and more co-op/non-profit housing options.
Final Thoughts
Vancouver’s leadership should be protecting renters, not profiting from them. This new plan is just another way for the city to benefit from high rents instead of working to lower them. If we don’t push back now, this could set a dangerous precedent—one where public land is used for revenue generation instead of housing solutions that actually help people.
We need real affordable housing, not another cash grab disguised as a solution.
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