B.C. government wielding cash, clout to get transit building density done – Construct Connect
August 20, 2024
As the NDP head into a fall election, it is wielding cash and clout to get transit oriented developments done at transit sites although new homes are still years away.
The NDP government has changed the Transportation Act to allow government to buy sites near key transit points, with the most recent government acquisition being the ICBC North Vancouver headquarters.
Other purchases have occurred in Port Moody in late 2023 and Saanich in early 2024. The purchases have been made through a $394-million property acquisition fund operated by the transportation ministry alongside a mandate to deliver 10,000 new homes over the next 10 to 15 years.
At the same time, the NDP government has brought in Bill 47 which calls for Metro Vancouver municipalities to increase their zoning for transit oriented development (TOD) sites.
