Counting the Chickens

Bob Rennie is a developer.

He makes his money by assembling properties, having the municipal council up-zone the assembled properties to allow higher densities to build his condo’s.

Bob Rennie is not a transit expert.

Bob Rennie loves expensive rapid transit because he can use it as a selling point for his expensive condos.

As we have seen in Burnaby, where renovictions are the order of the day, transit dependent elderly and financially constrained people who live near transit hubs are being evicted so developers can up-zone modest apartments to extremely expensive high rise condominiums.

There is an old Hungarian saying; “If gypsies knock on ones front door, rush out to the back and count the chickens.”

In context, if Bob Rennie wants more rapid transit for, “affordable home ownership“, best make sure it is not just to sell overpriced condo’s.

Vancouver’s “condo king”: better transit is the key to affordable home ownership

by Jill Drews

Posted Jun 2, 2016 4:31 pm PDT

Metro Vancouver is ready to embark on a large transit expansion if it gets funding, but will that come in time to stimulate the economy in the short term? THE CANADIAN PRESS/Jonathan Hayward

VANCOUVER (NEWS 1130) ai??i?? We have to stop talking about affordability only in Vancouver and broaden our vision to include the region, but to do this, we need better transit. Thatai??i??s the message from marketer Bob Rennie as he gives his final annual address to the Urban Development Institute.

ai???Condo Kingai??? Bob Rennie says Vancouverai??i??s population would have to increase by nearly 200,000 people if everyone who works in the city were to live there as well. ai???If everybody that works in Vancouver wants to live in Vancouver, we would have to increase our population by 197,000. We have 25 per cent of the regionai??i??s population, but we have 33 per cent of the regionai??i??s jobs.ai???

Not everyone is excited by the idea of living farther from their workplace. The argument from many priced out is theyai??i??re not interested in spending hours in a car each day or cramming onto the transit system.

Rennie says the way to allow for people working here to own their homes is to get them to move out of the city limits into other parts of the region. Heai??i??s calling for a real investment in transit, no matter the cost.

ai???When we do the Broadway line, itai??i??s getting as much density there as you can. I donai??i??t care if itai??i??s rental with no parking. There is no affordability here. Main Street is breaking $900 per square foot. There is no affordability in the City of Vancouver, so letai??i??s look to the region.ai???

Rennie is calling on the politicians holding up a funding model for transportation to see this crisis for what it is and get moving now.

Surrey Mayor Linda Hepner agrees with Rennie whole heartedly. Hepner says fixing this needs a regional, network approach to get people moving. ai???Transportation, especially when you have the geography the size of Surrey, is critical.ai??? She says itai??i??s a usable network that makes it possible to live in Surrey and work in Vancouver.

Metro Vancouver mayors have sent their latest proposed funding formula to the province. They want a $3 per year property tax increase and regional tolling among other things to raise their share of the money. The provincial government says it needs to discuss the ideas with the Mayors Council, but it is offering $246 million to immediately improve transit across Metro Vancouver.

Comments

One Response to “Counting the Chickens”
  1. eric chris says:

    Yes, I laughed at the article about how tearing down affordable and well maintained units renting for $700 monthly for Bob “the cockroach” Rennie to market 700 square foot condos selling for $400K or renting for $2000 monthly is going to make Metro Vancouver affordable. When allowed to comment on the money laundering along DIRT lines in Metro Vancouver, here is what people think:

    “Time for you to get lost, Bob. You made your fortune wiping out single family homes along subway lines after your buddy Gregor rezoned single family homes zones into luxury high rise condos zones for you to market to wealthy jet setters. Housing prices are out of reach thanks to slimy developers like you. You really do make me sick, Bob. Crawl back under your slimy rock.”

    http://www.cbc.ca/news/canada/british-columbia/bob-rennie-urges-vancouverites-to-give-up-on-single-family-home-dream-1.3079077

    Building 40 story concrete condos just increases the profit margin for developers. When a developer is allowed to pay $10 million for a few family homes along subway lines to build a 40 story condo unit, it escalates the price of all homes not only along the subway line but also throughout Metro Vancouver. There is a cascade effect where the homes wiped out along the subway line deplete the stock of available homes on the market and housing prices shoot up everywhere in Metro Vancouver. This doesn’t make Metro Vancouver more affordable. TransLink’s whole argument that unfettered condo development along DIRT lines running in subways and on viaducts takes people out of cars is false.

    Scientific evidence and empirical evidence both corroborate that public transit doesn’t curb road congestion. As a corollary, any claim that public transit reduces air pollution or carbon emissions is untenable. Mobility pricing is being proposed to tax drivers targeted to fund public transit under the false premise that public transit cuts road congestion. This is tantamount to fraud and a criminal offense.

    I’m in favour of affordable public transit to build tram lines or expand the trolleybus network for five story modestly priced condo units, but let’s be honest, public transit is welfare transportation. It doesn’t reduce road congestion:

    “Although there are likely more cars on the road because of the strike, our members are reporting faster travel times and less-than-usual congestion during the past five weeks in the Lower Mainland… Let’s face it. When there are hundreds of buses stopping and starting every few hundred yards, there’s going to be an impact on traffic. When those buses aren’t there, space is freed up and the rest of the traffic doesn’t need to drive around them.”

    http://www.trucknews.com/features/transit-strike-improves-traffic/

    “Chris recalled how smoothly traffic flowed in Vancouver during the four-month long [public] transit strike in 2001. This runs counter to claims about expanded bus service reducing road congestion. Chris cites a 2009 paper by Gilles Duranton and Matthew A. Turner from the University of Toronto department of economics. “The Fundamental Law of Road Congestion: Evidence from U.S. Cities” concluded that “the provision of public transportation has no impact on vehicle kilometres travelled.”

    http://www.vancourier.com/opinion/columnists/hold-your-nose-and-vote-no-on-plebiscite-1.1791689#sthash.xnAud2zf.dpuf

    Mobility pricing to fund TransLink, ostensibly to curb road congestion, isn’t happening. TransLink is $3.6 billion in the hole thanks to the fools who created the road congestion with their DIRT lines. They are going to swing from the end of a rope for it. These idiots think that they can now impose more taxes to make drivers pay for their stupidity. No, they are going to be out of a job, instead, like Robertson who thinks that he is going to lead the charge to tax drivers:

    “We want to see a very clear step to ensure we’re on track to implementing mobility pricing,” said Vancouver Mayor Gregor Robertson, chairman of the mayors’ council. “There’s a lot of ideas but we need a blue-ribbon panel to do the analysis. We’ll need that source of revenue in five years so we have to get cracking on it.”

    http://vancouversun.com/news/local-news/more-metro-vancouver-tolls-fees-coming-to-roads-near-you

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