While Vancouver's downtown residential population has exploded, the housing boom has crowded out commercial office space, to the detriment of the city's economy.
"Over the last 15 years, downtown Vancouver has become a leader in North America's urban housing renaissance. Under Vancouver's "living first" policy, which was adopted 20 years ago, the downtown population has increased to 80,000 from 40,000, out of a total city population of 600,000. By 2030, planners expect 120,000 people to live in the city's shimmering glass skyscrapers, which overlook the snowcapped North Shore mountains, English Bay and Coal Harbour.
But now, city officials and businesses are concerned that downtown Vancouver may become a victim of its own success, and that residential development will encroach on jobs and office space. Officials put a moratorium on new housing near the business district two years ago, after allowing two condo towers -- one called Living Shangri-La -- in what was supposed to be a commercial-only zone.
Last month, the city released a jobs and land-use study, which concluded that the downtown peninsula could run out of job space within five years under current zoning regulations."
Read the full story: Vancouver's downtown may become victim of its urban housing success
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