The proposed Transit-Oriented Area Rezoning Policy would guide rezoning applications and clarify City expectations within Vancouver's 29 TOAs.Staff for the City of Vancouver have proposed a new Transit-Oriented Area Rezoning Policy that would "guide reviews of rezoning enquiries" and "clarify City expectations within and outside of existing plan areas," according to a
Staff say this change would "better reflect the expected form of development based on typical lot sizes and assemblies in the Vancouver context" and "enables additional redevelopment options." A draft of the TOA Rezoning Policy, however, notes that "a maximum density of 3.40 FSR will be considered for mixed-use arterial sites providing continuous at-grade commercial use, provided all other requirements of this policy are met."that arose after the Province introduced Bill 47 was the housing requirements within TOAs, which the government did not detail and left to the discretion of local governments.
Staff note that third-party financial testing has shown that these inclusionary housing requirements are currently feasible in many TOAs, but that the proposed requirements will likely be refined in the future as the City works to implement density bonus rules by June 30, 2025, as required byPerhaps most significantly, projects that meet the inclusionary housing requirements will not be subject to further community amenity contributions .
For developers, in-stream rezoning applications will be allowed to proceed under the policies in effect at the time the application was submitted. City staff say that upon adoption of the TOA Rezoning Policy, rezoning applications that have not yet been submitted may potentially be granted a window of time to proceed under previous policies, "if the application is submitted without undue delay, subject to staff confirmation on a case-by-case basis.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: storeyspub - 🏆 16. / 74 Read more »