The report found Canada\u0027s affordable housing deficit has increased, despite a national federal housing program that began in 2017, along with provincial housing initiatives.
The report by the Institute of Municipal Finance and Governance at the University of Toronto concludes that more cooperation is needed to ensure affordable housing can be built more quickly.
It concluded that municipalities can make affordable housing projects viable by waiving development cost charges and other fees, by streamlining the approvals process, and by giving 10-year property tax holidays to non-profit affordable housing projects.Article content“Some local governments have done it, but others have said they won’t, or they will only provide grants. Victoria and Langford are doing both.
The report cites examples of helpful municipal policies, such as in Burnaby where council has designated some areas for rental housing proposals only and has streamlined approvals for non-profit projects. Both Surrey and North Vancouver have done pre-approvals for zoning in some areas, which will assist affordable housing projects to be built quickly.Article content
“We see some great examples of hard work by some municipalities to streamline processes and open housing quickly, like initiatives in Kamloops, Victoria, Richmond, Coquitlam and Burnaby,” he said. In January, the city passed a motion to allow increased density on single-family lots from the current four units to six. The policy would limit it to 2,000 lots across the city, potentially enabling up to 10,000 more homes. It has also created policies that require developers to build a certain percentage of “affordable housing units” in return for increased density and rezonings.
The report said municipalities could reduce housing costs by providing free or low-cost land leases on its properties, and governments should fund non-profits to buy rental housing in need of repairs to ensure they remain as rental units. Currently, real estate investment trusts, which have deeper pockets than non-profits, end up buying old rental units and converting them into condos.
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