The BC Government announced ways and means to speed up housing development and increase supply by giving the BC Government the power to set housing targets in municipalities with the greatest need and highest projected growth. Targets will be based on information provided by and in consultation with municipalities. The new housing targets will encourage municipalities to address local barriers to construction so that housing can get built faster, including updating zoning bylaws and streamlining local development approval processes.
To support implementation, the BC Government will continue to help local governments speed up local approval processes through the continued implementation of the Development Approvals Process Review and work underway to accelerate provincial approvals.
“These changes will have substantial impacts on the housing market, but coordination with the Federal Government is also necessary,” said Anita Huberman, President and CEO, Surrey Board of Trade. “The housing targets do not consider the burden developers face because of rising interest rates, red tape and federal programs that are currently failing. We also need to ensure that there are incentives for not-for-profit developers to build below-market rental units for our workforce.”
“We are supportive of enhancing efficiencies at the local level but setting housing targets that are unattainable will only result in a failed policy. Setting housing targets that are too low will not improve the housing crisis. We hope that all levels of government work with both the private sector and not-for-profit developers to understand what is required in order to deliver the housing we sorely need.”
The Surrey Board of Trade supports the Development Approvals Process Review and appreciates that the Province is also working on expediting their processes to get housing built.
The Province should also target the Federal Government in their processes as many new builds are situated near waterways, which requires work with the Department of Fisheries and Oceans. This process can be time consuming and costly, which exacerbates the housing crisis.
Read the news release here.
Read the Surrey Board of Trade policy on workforce housing here.
Read the Surrey Board of Trade policy on the Green Infrastructure Network and Housing here.
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Anita Huberman, 604-634-0342, anita@businessinsurrey.com
