Tuesday, May 28, 2024

Province sets housing targets which will include Victoria, Saanich and Oak Bay

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The BC government has taken a significant step toward addressing the ongoing housing crisis by announcing housing targets for the first 10 municipalities under the Housing Supply Act.

Three of those municipalities that have been set housing targets include Victoria, Saanich and Oak Bay. Victoria has been tasked with building 4,902 units, Saanich with 4,610 units and Oak Bay with 664.

The targets aim to accelerate the construction of tens of thousands of new homes in areas with the highest housing demand.

The Housing Supply Act, enacted to address the housing crisis that has adversely affected communities across the province, empowers the government to set housing targets in municipalities with the most pressing housing needs.

Ravi Kahlon, Minister of Housing, emphasized the urgency of the situation, stating, “The housing crisis is hurting people, holding back our economy, and impacting the services we all count on.”

The release of these housing targets is part of the province’s broader strategy to boost housing supply and affordability.

To support the implementation of these targets, the government will provide resources to expedite approval processes, including $10 million for the Development Approvals Process Review. This funding supplements the $1-billion Growing Communities Fund and the recent $51 million allocation to assist local governments in meeting new density initiatives.

The first 10 municipalities selected for housing target assessment include Abbotsford, Delta, Kamloops, North Vancouver, Oak Bay, Port Moody, Saanich, Vancouver, Victoria, and West Vancouver.  These targets represent a 38% increase in housing units to be built in these communities compared to historical trends.

In addition to setting targets, the government has provided guidelines to municipalities, including recommended numbers of units by size, rental versus owned units, below-market rental units, and units with on-site support.

These guidelines encompass more than 16,800 below-market rental units, reflecting the government’s commitment to addressing affordability challenges.

Municipalities are encouraged to meet the total housing need, although the targets are based on 75% of each municipality’s identified housing requirements.

The government will closely monitor progress and work collaboratively with municipalities to overcome challenges and seize opportunities in the pursuit of these targets.

Several mayors from the affected municipalities have expressed their commitment to this initiative.

“Saanich is wholeheartedly committed to working together on housing solutions. We will create more homes for more people, more quickly,” said Saanich Mayor Dean Murdock.

“We cannot underestimate the challenge ahead. Tripling the volume of permits over five years will challenge us as an organization. Success will require resource support from the province to create new homes for Saanich residents.”

“These targets are a step toward creating more homes to meet the diverse housing needs of Saanich residents,” Murdock added.

“Oak Bay is pleased to have the targets released and both excited and committed to building homes the region and our community needs,” said Oak Bay Mayor Kevin Murdoch.

“While municipalities throughout the province face a housing crisis, local expertise and Provincial resources will be required to address the unique pressures, constraints, and opportunities in each area. We were pleased to see potential Local Government financial support announced during Premier Eby’s address at the Union of BC Municipalities convention, as such funding can increase our capacity to respond to the Housing Target Orders and legislative changes expected this fall under the BC Homes for People Plan.”

Municipalities will be evaluated after six months, and every year thereafter, on their progress toward achieving the housing targets and actions taken to meet the target.

The Housing Supply Act allows for compliance options as a last resort if municipalities do not align with housing targets. This legislation is part of the Homes for People action plan, which builds upon BC’s substantial housing investment and implements effective tools to combat speculation and increase rental availability.

A second cohort of municipalities will be selected and notified later in 2023, ensuring continued efforts to expand housing supply throughout the province. With these housing targets in place, the government takes a significant step toward alleviating the housing crisis and improving housing affordability for BC residents.

Here is a comprehensive breakdown of the targets that all 10 cities must strive to achieve over the next five years:

  • VICTORIA
    • Total units: 4,902
    • Units by size:
      • Studio/one-bedroom: 3,365
      • Two-bedroom: 801
      • Three-bedroom: 736
    • Units by tenure:
      • Rental: 3,483
      • Owned: 1,419
    • Rental units by market rate:
      • Below-market: 1,798
      • Market: 1,685
      • Supportive housing units: 102
    • Five-year annual totals:
      • Year 1: 659
      • Year 2: 1,425
      • Year 3: 2,352
      • Year 4: 3,493
      • Year 5: 4,902
  • SAANICH
    • Total units: 4,610
    • Units by size:
      • Studio/one-bedroom: 3,001
      • Two-bedroom: 780
      • Three-bedroom: 828
    • Units by tenure:
      • Rental: 2,495
      • Owned: 2,115
    • Rental units by market rate:
      • Below-market: 1,161
      • Market: 1,134
      • Supportive housing units: 131
    • Five-year annual totals:
      • Year 1: 440
      • Year 2: 1,041
      • Year 3: 1,882
      • Year 4: 3,045
      • Year 5: 4,610
  • OAK BAY
    • Total units: 664
    • Units by size:
      • Studio/one-bedroom: 446
      • Two-bedroom: 100
      • Three-bedroom: 118
    • Units by tenure:
      • Rental: 246
      • Owned: 418
    • Rental units by market rate:
      • Below-market: 141
      • Market: 104
      • Supportive housing units: 20
    • Five-year annual totals:
      • Year 1: 56
      • Year 2: 138
      • Year 3: 258
      • Year 4: 429
      • Year 5: 664
  • ABBOTSFORD
    • Total units: 7,240
    • Units by size:
      • Studio/one-bedroom: 3,991
      • Two-bedroom: 1,213
      • Three-bedroom: 2,034
    • Units by tenure:
      • Rental: 3,753
      • Owned: 3,487
    • Rental units by market rate:
      • Below-market: 2,331
      • Market: 1,421
      • Supportive housing units: 198
    • Five-year annual totals:
      • Year 1: 1,022
      • Year 2: 2,186
      • Year 3: 3,563
      • Year 4: 5,224
      • Year 5: 7,240
  • DELTA
    • Total units: 3,607
    • Units by size:
      • Studio/one-bedroom: 2,021
      • Two-bedroom: 682
      • Three-bedroom: 904
    • Units by tenure:
      • Rental: 2,030
      • Owned: 1,577
    • Rental units by market rate:
      • Below-market: 830
      • Market: 1,199
      • Supportive housing units: 95
    • Five-year annual totals:
      • Year 1: 1,514
      • Year 2: 1,098
      • Year 3: 1,785
      • Year 4: 2,609
      • Year 5: 3,607
  • DISTRICT OF NORTH VANCOUVER
    • Total units: 2,838
    • Units by size:
      • Studio/one-bedroom: 1,605
      • Two-bedroom: 534
      • Three-bedroom: 698
    • Units by tenure:
      • Rental: 1,541
      • Owned: 1,297
    • Rental units by market rate:
      • Below-market: 657
      • Market: 884
      • Supportive housing units: 78
    • Five-year annual totals:
      • Year 1: 499
      • Year 2: 1,021
      • Year 3: 1,577
      • Year 4: 2,179
      • Year 5: 2,838
  • KAMLOOPS
    • Total units: 4,236
    • Units by size:
      • Studio/one-bedroom: 2,642
      • Two-bedroom: 739
      • Three-bedroom: 854
    • Units by tenure:
      • Rental: 2,227
      • Owned: 2,009
    • Rental units by market rate:
      • Below-market: 1,320
      • Market: 907
      • Supportive housing units: 115
    • Five-year annual totals:
      • Year 1: 679
      • Year 2: 1,414
      • Year 3: 2,233
      • Year 4: 3,164
      • Year 5: 4,236
  • PORT MOODY
    • Total units: 1,694
    • Units by size:
      • Studio/one-bedroom: 903
      • Two-bedroom: 328
      • Three-bedroom: 462
    • Units by tenure:
      • Rental: 704
      • Owned: 989
    • Rental units by market rate:
      • Below-market: 238
      • Market: 466
      • Supportive housing units: 30
    • Five-year annual totals:
      • Year 1: 231
      • Year 2: 499
      • Year 3: 820
      • Year 4: 1,212
      • Year 5: 1,694
  • VANCOUVER
    • Total units: 28,900
    • Units by size:
      • Studio/one-bedroom: 17,459
      • Two-bedroom: 5,231
      • Three-bedroom: 6,209
    • Units by tenure:
      • Rental: 20,886
      • Owned: 8,015
    • Rental units by market rate:
      • Below-market: 7,894
      • Market: 12,992
      • Supportive housing units: 583
    • Five-year annual totals:
      • Year 1: 5,202
      • Year 2: 10,597
      • Year 3: 16,281
      • Year 4: 22,349
      • Year 5: 28,900
  • WEST VANCOUVER
    • Total units: 1,432
    • Units by size:
      • Studio/one-bedroom: 854
      • Two-bedroom: 256
      • Three-bedroom: 321
    • Units by tenure:
      • Rental: 985
      • Owned: 446
    • Rental units by market rate:
      • Below-market: 435
      • Market: 551
      • Supportive housing units: 39
    • Five-year annual totals:
      • Year 1: 220
      • Year 2: 462
      • Year 3: 738
      • Year 4: 1,057
      • Year 5: 1,432
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Victoria Buzz Staffhttps://www.victoriabuzz.com
Your inside source for Greater Victoria happenings. Established in 2012.

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