The BC government has rolled out the latest round of communities to be given mandated housing targets to increase the flow of new homes, thus combatting the housing crisis.
This marks the fourth round of municipalities to be targeted by the Province in an initiative to identify where new homes are most needed by analyzing growing populations and current vacancy rates.
Of the 10 communities singled out, Vancouver Island is host to two of them: Langford and Courtenay.
Langford will be tasked with building 2,993 new homes within five years, and Courtenay must build 1,334.
The other eight municipalities include Burnaby, Coquitlam, the Township of Langley, Penticton, Pitt Meadows, Richmond and Squamish.
In total, these 10 communities must build 38,930 new and complete homes over the next five years.
According to the Province, each of the municipalities has been given a set of guidelines that recommend the number of housing units by size, including how many should be rentals or owned.
Additionally the guidelines set expectations for how many should be below-market rental units and rental units with on-site supports.
Of the 38,930 homes to be built in these municipalities, the BC government expects more than 14,000 of these homes are below-market rentals.
The housing targets initiative is a part of the Province’s Housing Supply Act, which aims to increase the supply, availability and affordability of housing in areas with the greatest needs.
So far, The Province says that the first 30 communities identified in this initiative have built more than 16,000 new homes.
Other Vancouver Island communities that have been singled out include Victoria, Oak Bay, Central Saanich, Esquimalt, Nanaimo, Colwood, Sidney, Saanich and View Royal.
