Vancouver's endangered buildings

[jlousa]

The government didn't cancel the heritage restoration program, there is a lot of misinformation out there. There are two seperate programs, one is the heritage facade program in which the city will match up to $50,000 per facade with conditions, (facade needs to go to original condition and be upkept for at least 1oyrs), that is still up and running.
The second one is the one that is on hold (not cancelled), and for good reason it involves giving bonus density for major restorations. That bonus density is then able to be sold off to other developments at market rates. The money raised subsidies the restoration project. The problem is the density bank is overflowing with density with no not enough developments needing to purchasing from it, so that's why it's on hold. If it continues to build up it will drop the price of all that available density killing the potential return. The city has placed a hold on issuing new bonus density until the bank gets down to more reasonable levels. At which point it will restart, possibly with some tweaks so it doesn't get out of hand again.