Targets Released For 10 Municipalities To Deliver More Homes For People

Housing targets for the first 10 municipalities selected as part of the Housing Supply Act have been released, laying the foundation for tens of thousands more homes to be built in areas with the greatest needs.

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

“We’re taking action and working with municipal partners to make sure more homes are built in communities with the greatest housing need. The targets include thousands of below-market rental units for the largest and fastest-growing communities. This means more people will be able find a home in the community they love.”

The Province also says it’s providing a $10 million top up to help speed up approval processes.

The first 10 municipalities were selected for target assessment in May under the authority of the Housing Supply Act, which allows the Province to set targets in communities with the most urgent housing needs.

Most of the 10 are located in Metro Vancouver and Greater Victoria, with Victoria’s target sitting at 4,900.

The province says the housing targets mark a 38% increase in overall housing to be built in these communities over what was projected to have been created based on historic trends.

The analysis took into consideration the total number of units that are needed to address the shortage of housing now and to respond to population growth over the next five years, and while the Province encourages municipalities to work hard to meet the total housing need, the targets have been set based on 75% of that municipality’s identified housing need.

Municipalities will be evaluated after six months, and every year thereafter, on their progress toward achieving the targets.

Another eight municipalities will be announced later this year.

To see the full release, visit Government of British Columbia.