326 Nanaimo Street: a new rental building replaced an old rental building. Two-bedroom unit now $3,650

At 326 Nanaimo Street a new rental building replaced an old rental building. What happened to the rents?

A new rental building at 326 Nanaimo Street replaced an older rental building that was demolished a few years ago. Tenants who were demovicted in 2019 were previously given the opportunity to return at a 20% discount over starting rents. According to the Vancouver Tenants Union, a two-bedroom apartment was previously around $1,100 a month. Given that starting rents are $3,650 for a two-bedroom, then even with a 20% discount, any returning tenants would see a rent increase of 265%. Apparently not a single demovicted renter has returned. If the Broadway Plan is passed, would similar stories be repeated over and over again for renters living in the apartment (RM & FM) zones?

Further information is available in a case study by the Vancouver Tenants Union: 326 Nanaimo: What we learned

3 thoughts on “326 Nanaimo Street: a new rental building replaced an old rental building. Two-bedroom unit now $3,650

  1. This article from 2020 describes a tenant protection case which surprised the demovicted tenant and “disappointed” city staff.

    https://bc.ctvnews.ca/vancouver-renters-allege-developer-broke-a-promise-to-let-them-return-at-the-same-rent-1.4794378

    KEY EXCERPT “Gray and his neighbours understood that to mean that when they moved back, they would sign a lease for the same rent they had been paying before they moved (in Gray’s case, $1,091 a month), and after two years, their landlord could raise the rent by the roughly two per cent per year currently allowed by B.C.’s rent laws.
    But in December, they received another document from Reliance. This one said the arrangement would actually involve signing a lease at the market rent – for Gray, $2,350 for a one-bedroom – and then getting a monthly rebate for $1,112. At the end of the two years, Gray and his husband would pay the full market rate of $2,350 – a 90 per cent increase, and a rate that would take up around 50 per cent of their combined income.”

    I’d like to see the Mayor, Councillors, City staff, and the development community comment on this scenario.

  2. City of Vancouver doesn’t enforce its own policies🤯?!?!?!? Nor do they adhere to their own zoning policies…I see a pattern here. What’s the point of plans and policies then? Hey if we delete all staff paid for creating plans and policies that we don’t follow, we could probably house all the people who need housing…

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