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It’s been 12 years since the city of Vancouver added the affordability option to the multifamily tax exemption. How effective has it been?
“We haven’t had a lot of affordable units constructed,” said Patrick Quinton, the city’s director of economic prosperity and housing. “And so that was one of the reasons we wanted to revisit the program was to better understand, how do we get projects built that include affordable units? The market seems to be telling us that the current program isn’t providing enough incentive.
