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Vancouver comes up short in first year of housing targets

Lower-than-expected number of affordable rentals contribute to shortfall

Rising rents have encouraged developers to propose new apartment and condo projects in Vancouver, including this 34-storey tower downtown planned by Kingswood Properties. (CoStar)
Rising rents have encouraged developers to propose new apartment and condo projects in Vancouver, including this 34-storey tower downtown planned by Kingswood Properties. (CoStar)

Vancouver fell short in meeting new supply targets in the first year of a requirement by British Columbia to add almost 29,000 units by 2028 to address the province’s growing housing shortage.

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