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5h ago

B.C. Sets Five-Year Housing Targets for 10 More Municipalities, Aiming for 40,000 Homes

Targets take effect Sept. 1, pegged to 75% of local need with explicit quotas for below-market rentals.

Recently the mayor of Langford, B.C., announced grants to help homebuyers cover their down payments on two bedroom condominium worth up to $450,000 making it more affordable for locals. Various condo projects are photographed in Langford, B.C., Friday, Oct. 22, 2021. THE CANADIAN PRESS/Chad Hipolito
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Condo towers are seen rising around Brentwood Station in Burnaby in this undated file photo.
File photo of the Westhills neighbourhood in Langford.

Overview

  • The fourth cohort includes Burnaby, Coquitlam, Courtenay, the Township of Langley, Langford, Penticton, Pitt Meadows, Richmond, Squamish and Vernon, with a combined goal of about 40,000 homes over five years.
  • Burnaby received the largest order at 10,240 homes, while Richmond, Coquitlam and the Township of Langley each exceeded 6,000; other targets include Langford at 2,993, Vernon at 1,829, Courtenay at 1,334, Squamish at 1,069 and Penticton at 908.
  • Provincial guidance specifies unit mix and tenure, with more than 14,000 homes in this group designated as below-market rentals including supportive units.
  • Municipalities must report progress annually, with potential provincial intervention through special advisors and binding directives if they fall behind, a process already used in Oak Bay and West Vancouver.
  • Local responses vary, with Pitt Meadows objecting to a 727-unit target due to land and regulatory constraints, while Vernon created a task force to seek public land for non-market housing as the province cites over 16,000 homes delivered in earlier cohorts.