The Broadway Plan: Executive Summary for Landowners
Overview
30-Year Vision · The Broadway Plan reshapes nearly 500 blocks around Vancouver’s Broadway Corridor.
Major Focus · More housing and jobs near the new SkyTrain extension, plus community amenities (e.g., childcare, cultural spaces).
Opportunity · Rezoning and densification options can dramatically increase property potential—but the process is complex.
Key Objectives of the Broadway Plan
Housing · Increase higher-density and below-market rental supply.
Affordability · Promote building forms that serve a range of incomes and tenures.
Transit-Oriented Development · Prioritize taller buildings near SkyTrain stations.
Community Benefits · Require developers to provide public amenities in exchange for greater density.
Implications for Property Owners
Zoning Changes · Many lots can now go higher and denser.
Redevelopment Potential · Expanded buildable envelopes can significantly boost site value.
Long-Term Rollout · Upzoning and public infrastructure improvements will unfold in phases over the next three decades.
Four Key Questions for Landowners
1. How Does the Broadway Plan Affect My Property Value?
Upzoning = Potential Boost · Properties near stations or main intersections often see the greatest uplift.
But Market Realities Still Rule · Interest rates, buyer demand, and existing building conditions affect final value.
It’s Site-Specific · Location, lot size, and development potential vary—expert input helps clarify true value.
2. Can I Sell Now, or Should I Hold and Redevelop?
Sell Now · Quick exit if you prefer no long-term entanglements; prime sites often attract strong offers. Rising rates and market shifts can make timing critical.
Hold & Redevelop · Potentially larger returns if you have capital, patience, and the right partnerships. As new infrastructure and rezonings roll out, certain parcels will appreciate even more.
3. What New Zoning and Density Rules Apply to My Lot?
Height & Density Increases · Mid-rise to high-rise (8–20+ storeys) possible near transit; 4–6 storeys on secondary streets.
Mixed-Use Requirements · Commercial or office spaces may be required at ground level, with residential above.
Approvals & Contributions · Rezoning involves public hearings, design reviews, and community amenity contributions—which can be intricate to navigate and must be factored into decisions around potential yields.
4. How Can I Ensure Maximum Value for My Site?
Understand All Potential Uses · Compare rental, strata, or mixed-use scenarios for the best return. Factor in your lot’s shape, size, and neighbouring developments.
Strategic Timing · Market cycles, interest rates, and city council updates all affect final outcomes.
Site Preparation · Environmental assessments, servicing upgrades, and studies can reduce costly delays.
Partnerships & Expert Guidance · Collaborate with professionals—or bring in a specialized consultant—to manage complexities and boost your ROI.
Landowner Action Steps
Evaluate Your Property’s Potential · Identify specific upzoning and density changes that apply to your lot.
Analyze: Hold, Develop, or Sell? · Weigh market timing, financial goals, and risk tolerance.
Explore Redevelopment & Partnerships · Consider joint ventures, financing options, and developer ties if you choose to build.
Monitor Market Dynamics · Stay current on interest rates, demand, and city policy changes to fine-tune your strategy.
Bottom Line
The Broadway Plan presents a wealth of opportunity—but it’s not straightforward. If you’re not already a seasoned developer, let’s talk. I can help you navigate the transaction process, market complexities, and partnership logistics to ensure you realize your property’s full potential.
