2017 was a record-breaking year for construction in Burnaby.
The city handed out $1.05 billion worth of building permits, an increase from the $819 million issued in 2016. The second-best year was in 2015, at $879 million, according to a staff report presented to Burnaby council Monday night.
“Ultimately, it’s been good planning,” Mayor Derek Corrigan told the NOW after the meeting, pointing to the development underway in Burnaby’s four town centres.
In Metrotown, things are already starting to take shape as a result of the controversial Metrotown Downtown Plan that council adopted last summer. The update allows for more density in the neighbourhood and paves the way for condo towers to go up where two- or three-storey walk-ups once stood.
The goal of the plan is to create Burnaby’s first-ever downtown, but housing critics have argued it will displace thousands of low-income renters, many of whom can’t afford to move into the new high-rises.
The Sears site in Metrotown will be the first redevelopment project under the downtown plan. Once complete, it will boast six residential towers, each atop a commercial podium along Kingsway.
“The nature of the development community is when they do want to move, they move incredibly quickly,” said Corrigan. “These are hundreds and hundreds of millions of dollars in investments coming through – $1 billion dollars in (permit) value is a significant figure. I don’t think people can underestimate how hard the city had to work to be able to accomplish that.”
Rick McGowan with the Metrotown Residents’ Association said while housing supply is being built, it’s not the right kind of supply.
“They’re not building enough affordable housing,” he said, noting Burnaby has lost more purpose-built market rental housing over the last seven years than any other Metro Vancouver municipality.
Since 2010, Burnaby has seen a net loss of 712 units, while Vancouver has added 2,227, according to Canada Mortgage and Housing Corporation data.
The City of Burnaby needs an affordable housing strategy, according to McGowan, one that would invest in housing annually.
“They can invest in housing more directly than they are,” he said.
Of the 1,649 permits issued last year, 54 per cent ($571 million) went toward multi-family construction. Following was single-family construction ($191 million) and commercial construction ($143 million).
Meanwhile, Burnaby ended 2017 with a $1.32-billion reserve, up from $1.10 billion the year before, according to another staff report. A big chunk of the money came from developers who fork over extra cash for increased density.
That money, also known as the city’s community benefit bonus fund, pays for amenities like pools, rec centres and non-profit housing.
By the numbers
2017: 1,649 permits valued at $1.05 billion
2016: 1,799 permits valued at $819 million
2015: 1,774 permits valued at $879 million
2014: 1,737 permits valued at $698 million
2013: 1,674 permits valued at $674 million
2012: 1,803 permits valued at $514 million
