BC Government Announces Housing Targets for Island Communities
Last week, the BC Government announced their long-awaited housing targets for the ten municipalities across BC they identified earlier in the year. Of the 10, Victoria, Saanich and Oak Bay are the only communities identified on Vancouver Island, with each municipality needing to build 4,902 (Victoria), 4,610 (Saanich), and 664 (Oak Bay) units within the next five years.
In addition to the targets, the Province has sent each municipality a list of housing target guidelines, including a recommended number of units by size (one bedroom, two bedroom, three bedroom), rental versus owned units, below-market rental units and units with on-site supports. Suppose a municipality has not met a target and is not making satisfactory progress toward meeting the housing target. The housing minister may appoint an adviser and/or issue a directive in that case.
The Vancouver Island Construction Association welcomes this legislation, and we look forward to working with our municipal and provincial partners to support our communities best to meet these housing targets.
For more information on the housing targets, click the link below: https://ow.ly/t9SI50PRgza