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Pacific Canada  + Canada + Cross Border News  + Apartments  | 

B.C. Aims to Build More Prefab Apartments

The B.C. government is aiming to build more prefabricated multi-residential buildings with help from Vancouver-area municipalities.

On Thursday, the Metro Vancouver Regional District’s planning committee will decide whether to accept and distribute a report designed to help the province identify municipalities interested in exploring pre-approved building plans and more prefabricated apartment construction.

Metro Vancouver is the umbrella group for the region’s municipal governments.

B.C. demand for rental housing is significantly outpacing the growth of purpose-built units, says the report. Between 2016 and 2022, total renter households increased 13.2%, while purpose-built rental stock only rose 5.6%.

In 2022, the average vacancy rate for purpose-built rental townhouses and apartments was just 0.9%. Off-site construction can reduce project delivery times and cut costs by 30%, according to the report.

The province and real estate industry leaders have expressed interest in jointly advancing policies, investments and actions that boost off-site construction, the report adds.


Inside The Story

Metro VancouverMonte Stewart

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Lease
  • ◦Sale/Acquisition
  • ◦Development
  • ◦Financing
  • ◦Policy/Gov't
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