With Vancouver’s new multiplex zoning policies, many homeowners are exploring co-development as a way to unlock their property’s potential. Whether you’re teaming up with a friend, family member, investor, or neighbor, co-developing can be a powerful way to create wealth, share resources, and contribute to the city’s housing supply.
But before you dive in, there are some key things you need to know.
1. 🧱 Understand the New Zoning Rules
As of 2024, Vancouver has introduced new multiplex zoning that allows up to 6 units on a single lot (in many RS-zoned neighborhoods). But zoning varies by area—things like lot width, square footage, and location all impact what you can build.
✅ Start with a feasibility study to understand what’s possible on your specific property.
📍 Not sure where to start? We’ll help you with a free one here.
2. 🤝 Choose the Right Co-Development Partner
This is a business relationship—treat it like one. Whether you're working with friends, family, or outside investors, make sure your goals, timelines, and financial expectations align. You'll want to establish:
Clear roles and responsibilities
How costs and profits will be split
What happens if someone wants out early
💡 Pro Tip: A formal co-ownership or joint venture agreement is essential. We can connect you with legal professionals who specialize in this.
3. 💸 Know Your Financing Options
Co-developing means pooling resources—but that doesn't mean it's always simple. Will one party finance the build? Are you splitting down payments? Who’s responsible for construction costs?
Some options to explore:
Joint mortgages
Private lenders or investor capital
Equity splits based on land value vs construction contribution
📊 Understanding the numbers upfront avoids big problems later.
4. 🏗️ Get the Right Team in Place
From architects and builders to lawyers and city planners, successful co-development depends on having the right people on your side. You’ll need professionals who:
Understand Vancouver’s permitting process
Have experience with multiplex builds
Can keep your project on time and on budget
✨ At Kritikos Real Estate Group, we work with vetted partners who specialize in small-scale development—and we can introduce you.
5. ⏳ Be Ready for a Timeline
Multiplex co-development isn’t overnight. From planning and permitting to construction and sales/rentals, the process can take 12–24 months depending on scope.
Set realistic expectations from the beginning and make sure all parties are in agreement on:
Timeline
Exit strategy (sell vs hold)
Communication throughout the process
Thinking of Co-Developing in Vancouver?
Whether you're a homeowner looking to unlock your lot's potential or an investor ready to collaborate, co-development can be a game-changer—when it's done right.
At Kritikos Real Estate Group, we specialize in helping homeowners navigate the process of multiplex development, including partnerships, planning, and property potential.
📞 Let’s talk about your goals.
👉 Book a free feasibility study here or
📅 Schedule a 1:1 call with Maria
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