Exploring BC's Latest 'Homes for People Action Plan'
- Tiffani Hardie
- Oct 19, 2023
- 4 min read
David Eby (Premier) and Ravi Kahlon (Minister of Housing) introduce a holistic strategy they feel will fast-track more housing in response to BC's housing crisis.
Homes for People is a comprehensive plan that builds upon significant investments made in the past five years to address the housing crisis in British Columbia. Its primary objective is to ensure that every person and family in the province can afford a home that meets their needs. This initiative shifts the focus from housing as a source of profit to housing as a foundation for the people of British Columbia.
The housing crisis in British Columbia has reached critical levels. Many people find themselves unable to afford single-family detached homes, and smaller housing options like 1- or 2-bedroom condos do not meet the needs of growing families. The lack of small-scale, multi-unit housing like townhouses, duplexes, triplexes, and row-homes has intensified the housing crisis. Outdated zoning policies, especially in urban areas, have made it difficult to build such homes, driving up prices and limiting housing options.
Housing History in BC
For decades, provincial and federal governments did very little to intervene in the housing crisis. Housing prices soared to unmanageable levels, and rampant speculation and vacant homes became the norm. The emphasis was primarily on single-family homes and luxury condo developments, leaving many struggling to find affordable housing.
In 2018, the government took a decisive step by investing $7 billion in housing affordability, the largest investment in the province's history. This commitment included delivering 114,000 new homes in partnership over a decade, involving various stakeholders such as the private sector, federal and local governments, non-profits, and faith-based organizations.
Just five years into this plan, significant progress has been made, with over 74,000 new homes open, completed, or underway. The Speculation and Vacancy Tax has helped convert over 20,000 condos into rental homes in Metro Vancouver, and more than 40,000 provincially funded or financed homes are complete or in progress.
Budget 2023 continues the momentum with over $4 billion allocated for the next three years and a long-term commitment of $12 billion over the next decade.
Multi-Unit Housing & Secondary Suites
One key aspect of BC’s newest housing plan is to encourage the construction of small-scale, multi-unit housing.
Traditional zoning policies have primarily favoured single-detached homes and high-rise condos. However, the new legislation to be introduced this fall will allow many areas throughout BC to have four units on a single-family detached lot (or 3 depending on the size & type of lot), with additional density in transit-served areas.
The province will invest $394 million to deliver up to 10,000 housing units near transit over the next decade.
Furthermore, the government plans to introduce legislation to allow secondary suites in every community in the province, thus providing more rental options.
To incentivize homeowners to create long-term rental units, a pilot financial incentive program has been introduced, offering forgivable loans for renovation costs. This plan is called the Home Suite Home initiative.
Tackling Affordable Housing Shortages
The government appears to be taking a comprehensive approach to address the affordable housing shortage.
They plan to introduce amendments to the Strata Property Act to eliminate discriminatory housing practices and increase housing availability by ending bans on renters in stratas.
Their plans include creating subsidized rental homes for thousands of families, seniors, and vulnerable individuals through partnerships with housing providers. In response to the underinvestment in on-campus housing for post-secondary students, the government is committing to building 4,000 additional beds in high-density areas.
Additionally, a $500 million Rental Protection Fund is being established to protect affordable rental homes from speculators and large corporations, ensuring rents remain reasonable.
Advancing Housing Equity & Security
In their commitment to creating a fair and accessible housing environment, British Columbia is taking several strategic steps.
These measures include introducing a "Flipping Tax" to discourage speculative real estate activities, enforcing stricter regulations on short-term rentals to safeguard long-term housing availability, expediting the resolution of renter/landlord disputes, converting vacant units into homes, and cracking down on criminal activity in the real estate sector. Additionally, a new income-tested renters' tax credit aims to provide financial relief to renters with moderate and low incomes, alleviating housing cost burdens.
"“We are working with our partners to unlock more homes across the spectrum of housing faster than ever, so everyone in our province can have a safe, secure and stable place to call home.”
- Ravi Kahlon, Minister of Housing
The housing crisis doesn't just affect housing; it has profound impacts on the economy, causing labour shortages and exacerbating inequality. Vulnerable populations face the brunt of this crisis, compounding the challenges they already face.
I feel the Homes for People Action Plan represents a bold and comprehensive approach to solving the housing crisis in British Columbia. With substantial investments, policy changes, and collaboration across various sectors, it seeks to bridge the gap between housing supply and demand, making the dream of affordable and suitable housing feel as though it will one day be a reality for our province.
Learn More:
BC's Homes for People action plan: https://news.gov.bc.ca/files/Homes_For_People.pdf
To read the Belonging in BC plan, visit: https://news.gov.bc.ca/files/BelongingStrategy.pdf
A map showing the location of all announced funded housing projects in B.C: https://www.bchousing.org/homes-for-BC
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