Heritage Incentive Program to protect buildings
Steve Randall
Canadian Real Estate Wealth
Heritage buildings and assets in Vancouver have been given a conservation boost by the City Council which has approved three components of a preservation package.
The first, is a citywide Heritage Incentive Program (HIP) which will provide grants up to a maximum of $4 million per building for heritage conservation and seismic upgrades of commercial and non-commercial buildings that are on the Vancouver Heritage Register and protected by the heritage designation bylaw.
The HIP replaces the Heritage Building Rehabilitation Program which expired in 2015.
There will also be the option of transferring heritage density for any new heritage designation sites in Gastown, Chinatown, Victory Square, and the Hastings Street Corridor, the areas with the highest concentration of heritage buildings in Vancouver.
Secondly, the Heritage Façade Rehabilitation Program (HFRP), which was first introduced in 2003 for sites in Gastown, Chinatown, and the Hastings Street Corridor, has been expanded to be citywide and will provide grants of up to $50,000 for the rehabilitation and seismic stabilization of the façades of registered heritage buildings.
Finally, the Heritage House Conservation Program (HHCP) is a citywide program that will support heritage conservation of privately owned single or two-family buildings, small apartment buildings, multi-family conversions or similar buildings that are primarily wood-framed, with grants of up to 50% for eligible workv
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