By YULIYA TALMAZAN, Global News
Monday, October 29, 2012
As Vancouver city council prepares to vote on the re-zoning of an East Hastings neighbourhood, members of the Coalition of Progressive Electors are calling on the city to stall the decision on the re-zoning until the completion of Downtown Eastside Local Area Plan.
The property in question is 955 East Hastings Street. It currently houses a number of businesses, ranging from a design studio to a crate manufacturer.
Former councillor Ellen Woodsworth says most of the businesses in the area are concerned they won’t be able to cover their rent once the re-development is complete.
“We are concerned about the gentrification of the neighbourhood,’ says Woodsworth. “Rents and land values will go sky high.”