Vancouver is on the brink of a significant policy change that will scrap minimum vehicle parking requirements for new buildings, including residential, office, hotel, retail, services, and industrial uses. The only exceptions will be for accessible and visitor parking spots. This follows provincial legislation that demands removing such requirements for residential areas near transit and small-scale multi-unit housing. City Council is expected to greenlight this proposal along with others on June 26, just before the provincial deadline of June 30, 2024.
The change aims to simplify the development process, aligning with Vancouver’s goals of faster permits and support for transportation and climate initiatives. Past moves include lifting parking minimums for most of downtown, single-family residential multiplexes, and other specific areas. The new policy is designed to reduce construction costs, improve housing affordability, promote alternative transportation, and cut emissions.
However, city staff highlighted the risk of developers providing insufficient parking, stressing that on-street parking is limited. An increase in on-street parking demand can lead to more time-limited or paid parking, residential permit zones, and enhanced parking enforcement. Parking revenue is vital for the city and is projected to increase from $69 million in 2023 to $78.4 million in 2024.
