Rooftop Real Estate Talks - ep3: City of Vancouver Considering Multiplexes in Single Detached Lots 

Thanks Mark. Very good question. I think the biggest pro is that builders can build more quickly to create supply under more simplified regulations and not having to jump through hoops to get more than 2 units up on an RS lot. I think having more people move into low density neighbourhoods could potentially help build a more lively community. But quite honestly, I can think of more cons than pros. I see problems with water/sewage infrastructure eventually even though the city calls this gentle densification. What about parking? People who live in these low density areas that aren't close to rapid transit will most likely need their cars, especially families with young kids. The city wants to focus on building family-size homes on RS lots under this new zoning, so I'm already seeing an issue right there. I am 100% willing to bet that with increased density, street parking will become a challenge. Imagine if you were a family driving an EV and you didn't have your own parking spot? You have to charge your car before coming home? Mm, not for me. Also there won't be a uniform look when it comes to neighbourhood aesthetics. This last point, I don't really mind so much. I think the biggest opposition would come from owners on the Westside (lots are big, could allow up to 8 rental units) and also from owners living in already really dense areas like Fraserhood and Mt Pleasant. To answer the house price question. I have already experienced first hand talking to a couple of my clients who originally were thinking of selling their properties last year and early this year. They want to wait until this new multiplex bylaw to pass and then ask for the highest price possible since builders would then be able to sell more units than just a couple. Will detached home prices come down? I doubt it. Sellers would want even more than before. Another thought just came up: If I were a buyer ( I now have a toddler), I would still have trouble coming to terms with the idea of living in a home that has people living underneath, especially in a woodframe multiplex (if we're talking about a stacked configuration which I think would be most common since that's the only way to fit the most units on a standard lot). My kid would be making so much noise. And personally, I am not a fan of buying garden level suites to mitigate that noise issue because I wouldn't know who would live above me. I wouldn't want to be subject to noise all day i.e. piano, kids running around, chairs dragging, high heels clacking etc. Even with the new multiplex option, I think most young families would still go after 1. duplexes 2. non-stacked townhomes which already are in short supply. At the end of the day, I highly question if these multiplexes really would help give more options to families specifically or even bring down house prices.