Construction began yesterday on a Granville Street apartment, the first to be built under a new program aimed at replenishing the city’s dwindling rental stock.

 

The 106-unit, 10-storey building between Davie and Helmcken streets is part of the Short-Term Incentives For Rental (STIR) program.

“In Vancouver, more than 50 per cent of households rent, yet the rental housing stock is aging and in decline,” said Mayor Gregor Robertson, who broke ground at the site. “If we want people to live close to where they work, to give them options on where to live, we need to develop more rental housing.”