Eye on Norquay has already connected the recent rezoning of 3 acres at Boundary-Ormidale-Vanness to the protracted Norquay struggle with developers and planners and politicians.
Now see for yourself how affordable housing is also a key issue in this mass rezoning. Listen to what NSV Council candidate Terry Martin says to the 1 November 2011 public hearing:
Martin begins by highlighting the severe conflict of interest situation of the Vision and NPA councillors who have received substantial funding from applicant Wall Financial.
He comments that the rezoning would increase FSR from 1.45 to 5.5 (an increase of 380%). Based on a rough estimate of $400,000 per unit, the rezoning alters overall project value from $120 million to $445 million. At a 15% profit margin, Martin estimates an extra $50 million in profits will go to the developer.
Martin notes that the only two councillors to bring up the issue of affordable housing were David Cadman and Ellen Woodsworth — perhaps not coincidentally the only two councillors not impaired by conflict of interest.
Despite incorporating a lot owned by the City of Vancouver, the project contemplates no contribution whatsoever to affordable housing.
[ Editorial aside: the gentrification agenda does not support “mix” in this kind of virtual gated-community development — just phony talk of loving “mix” as long as it happens to land in places like the Downtown Eastside. ]
To rub in the pain, the motion to approve this mass rezoning was made by Kerry Jang — a past master at betraying the area of town that he likes to claim to live in.
Detail of the vote:
Against: COPE (David Cadman, Ellen Woodsworth)
For: Vision (Gregor Robertson, Heather Deal, Kerry Jang, Raymond Louie, Geoff Meggs, Tim Stevenson)
NPA (Suzanne Anton)
Martin has also put out this tweet on the public hearing.