Your government has been made aware of the dire situation for businesses in Vancouver since the start of the pandemic. As you are aware, a recent announcement was made for Granville Island in Vancouver, a site owned by the federal government, where a special provision is made and $17 million is made available to provide rent relief for the merchants, theatres and artisans for a full year. While I support and appreciate the Federal government’s action in support of Granville Island, I would like to emphasize that historic Chinatown is in need of special consideration from your government. The significance of Vancouver’s Chinatown, a national historic site, is undeniably valuable to our city, our province and indeed our country.
Even before the pandemic occurred, Chinatown was already in a delicate state. The neighbourhood was ranked number three on the Heritage Vancouver Society’s top 10 watch list of endangered sites in Vancouver in 2018 and listed as the top 10 endangered places of the National Trust for Canada in 2016. In fact, ongoing gentrification and immense pressure from developers have already been impacting Chinatown’s rich cultural essence. The loss of small business merchants would only increase the risk of Chinatown losing its unique urban cultural characteristics.
City TV: Concerns raised about rising cost of rentals for low-income earners: Vancouver MP
A Vancouver NDP MP is sounding the alarm when it comes to rent-geared-to-income housing units, saying incoming changes by the federal government will lead to a severe shortage within the affordable housing market in this country.
Vancouver East MP Jenny Kwan says she’s learned that as of March 31, 2028, Ottawa will be cutting subsidy funding to non-profits that operate buildings that include units for those on a fixed income. Once those suites are vacated, she says the price of those units will be bumped to market rates.
For example, a rental suite that’s going for $650 right now could be increased to $1,800 or more.
Kwan adds these changes are happening right now at some buildings in Metro Vancouver as non-profits try to bank money to prepare for their funding to be slashed in the future.