2023-2026 Capital Plan approved by Council

City Council approved the 2023-2026 Capital Plan, which outlines $3.5 billion of capital investment in infrastructure and amenities. The 2023-2026 plan dedicates significant investments to renew aging amenities and infrastructure, in addition to supporting population and employment growth with new/expanded amenities and infrastructure, including housing and community facilities. It also increases investments to advance climate mitigation and adaptation work, and sets aside funding to leverage senior government partnerships.

Capital investments

The $3.5 billion capital investment is comprised of:

• $0.7 billion in Council-approved, in-kind infrastructure and amenities to be delivered through development
• $2.8 billion in capital programs/projects to be delivered by the City and/or its community partners

The largest allocation of $874 million is set aside for water, sewers and drainage, followed by $617 million for housing and $468 million for streets. Community facilities have also been allocated $391 million.

2023-2026 Capital Plan highlights

• Investment priorities focused on climate mitigation and adaptation, pursuing opportunities for additional investments to support the Climate Emergency Action Plan, with priority given to projects that can leverage additional partner contributions and projects with the highest mitigation impacts
• Significant increase in renewal funding to address aging infrastructure, including renewing the Vancouver Aquatic Centre in the West End and RayCam Community Centre in Strathcona. 
• Investment in water, sewer, and streets infrastructure, including $75 million for critical maintenance work on the Granville and Cambie bridges. 
• $617 million allocated for housing, including approximately 725 units of in-kind housing, land acquisitions, grants to partners, SRO programs, and shelters
• New/expanded amenities and infrastructure to support growth, including a new community centre in East Fraser Lands and the first phase of a new park in Southeast False Creek
• $105 million for public safety, including replacement of Firehall #8 in Downtown South and replacement of our animal shelter
• Addition of $3 million for new, renewed, and expanded outdoor sport field facilities in parks, with overall funding increasing to $6.85 million from $3.85 million. 
• Addition of $3 million for the Gastown/Water Street project, with overall funding increasing to $10 million from $7 million, to advance additional targeted sidewalk repairs and projects to enhance the public realm in Gastown, including visibility of Host Nations
• Prudent financial strategy based on capital reserves (30%), pay-as-you-go (29%), debt financing (21%), and in-kind contributions (20%)

Capital Plan plebiscite

A 2023-2026 Capital Plan plebiscite on October 15, 2022, will ask Vancouverites to approve municipal borrowing in three categories:

1. Transportation and core operating technology
2. Community facilities
3. Parks, public safety, and other civic facilities, climate change adaption and other emerging priorities

Learn more about the 2023-2026 Capital Plan

Background

A capital plan is a four-year investment plan for our amenities and infrastructure, which includes:

• Parks
• Sidewalks
• Water and sewer pipes
• Community facilities such as recreation centres and libraries, municipal facilities, public safety facilities and more

Investing in amenities and infrastructure helps keep Vancouver running smoothly and contributes to our quality of life, whether it’s how we:

• Move
• Enjoy public spaces
• Are kept safe
• Adapt to climate change
• Receive clean water and other core services

A large portion of the capital plan focuses on the much needed work to maintain and renew existing amenities and infrastructure around Vancouver to keep them in good shape.

The remainder of the capital plan is investments in new and expanded amenities and infrastructure to help serve our growing population and economy.

City Council determines the allocation of available tax funding, development contributions or partner contributions. We also conducts public engagement on the capital plan every four years to help inform investment priorities.