Industrial Modernization Framework Update
Motion 7 · Standing Committee on City Finance and Services, February 1, 2023
Summary
- Directs staff to report back by end of Q3 2023 on the Industrial Modernization and Intensification Framework, which aims to guide the future of Vancouver's industrial lands amid changing business needs and growing pressure on employment land supply.
- Report to include strategies to accelerate framework development, measures to limit land speculation, and an overview of regulatory and policy options including potential rezoning moratoriums and land-swap mechanisms.
- Context: Vancouver faces a potential gap of up to 1.2 million sq. ft. of industrial/employment space by 2051 under high-demand scenarios; industrial rents are rising and some businesses are leaving the city.
- Framework's four objectives: protect industrial lands for employment use; enable balanced intensification; match the right users to the right spaces; monitor and report on industrial change.