BROKEN PROMISES- no affordable housing
Same old, same old,
Who remembers the Olympics,
Remember Olympic Village,
They promised Social housing, it NEVER happened.
Let's face it BC is build on broken promises...it's the legacy we leave :(
Let's face it BC is build on broken promises...it's the legacy we leave :(
Advocates frustrated by application process for social housing
Here's what AI had to say. Do your OWN research.
The Vancouver Olympic Village, originally known as the Southeast False Creek (SEFC) development, was a significant project tied to the 2010 Winter Olympics. The project was promoted as a model of sustainable urban development, with promises of including a substantial portion of affordable housing. Here's a brief overview of the key points:
Initial Promises and Plans
- **Affordable Housing Commitment**: Initially, the city committed that 30% of the housing units in the Olympic Village would be affordable, catering to low- and middle-income residents. This commitment was a major selling point to gain public support for the project.
- **Housing Units**: The development was planned to include around 1,100 units, meaning roughly 330 units were supposed to be affordable.
Changes and Challenges
- **Cost Overruns**: The project faced significant cost overruns, leading to financial difficulties. The global financial crisis of 2008 also exacerbated these issues, putting further strain on the project budget.
- **Reduction in Affordable Housing**: Due to the financial challenges, the commitment to affordable housing was progressively scaled back. Eventually, only about 252 of the units were designated as affordable housing, far below the initial promise of 330 units.
- **Market Pressures**: The pressures of recouping costs and the lucrative potential of selling units at market rates contributed to the reduction in the number of affordable units.
Impact and Relevance Today
- **Affordable Housing Shortfall**: The reduction in affordable housing units at the Olympic Village highlights ongoing challenges in balancing development costs with social housing commitments. This issue is still relevant today as cities grapple with housing affordability crises.
- **Policy Lessons**: The experience serves as a cautionary tale about the need for strong regulatory frameworks and financial planning to ensure that affordable housing commitments are met in large-scale developments.
- **Current Scenario**: As of recent years, affordable housing continues to be a contentious issue in Vancouver and many other cities, with debates about how to effectively integrate social housing into urban development plans.
The Olympic Village case underscores the importance of holding developers and city planners accountable to their commitments, ensuring that affordable housing remains a priority amidst financial and market pressures.
Question
How many units actually were social housing in the end if any
The Vancouver Olympic Village, initially designed to include a significant portion of affordable housing, faced several challenges that ultimately affected the number of units designated for social housing. Here's what happened:
### Final Outcome
- **Social Housing Units**: Out of the approximately 1,100 units in the Olympic Village, only 126 units ended up being designated as social housing.
- **Affordable Housing Units**: Additionally, around 126 units were allocated as "affordable rental" units, which are intended for middle-income households but are not the same as social housing aimed at low-income residents.
### Breakdown
- **Total Affordable Units**: Combining the social housing units with the affordable rental units, the total number of units designated as affordable housing was approximately 252.
- **Initial Promise vs. Reality**: This was a significant reduction from the original promise of 330 affordable units (30% of the total units).
### Context
- **Financial Pressures**: Financial difficulties and cost overruns significantly influenced the reduction in the number of social housing units. The global financial crisis in 2008 exacerbated these issues, making it challenging to adhere to the initial commitments.
- **Market Pressures**: The need to recoup costs and the high market value of the units led to more units being sold at market rates, reducing the proportion of affordable and social housing.
The Olympic Village experience highlights the complexities and challenges in balancing financial viability with social commitments in large-scale urban development projects.
This is big reason I buoycotted OLYMPICS
Sorry for messy post, I have chores todo
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