In an effort to address one of the region’s most critical issues, Coquitlam City Council approved a Housing Affordability Strategy (HAS) back in December 2015.
I’m very proud that since the endorsement of this strategy, all ten short-term, high priority two-year action items are now operational or have been completed. And the strategy is working.
One success: Developers are embracing new incentives to build rental housing. We’ve seen a significant increase in the development of purpose-built rental units through the regulatory incentives put into place. Since the HAS was adopted in December 2015 approximately 2,475 new purpose-built rental and 166 below-market (subsidized) rental units have applied or been approved for development, and another 400 to 500 below-market units are in preliminary discussions. In the entire decade prior, only 67 market and 78 below-market rental units were built in the city.
I would be negligent if I didn’t also report that the HAS received an honourable mention in the 2017 Planning Institute of British Columbia Awards.
I look forward to continuing to promote the City’s HAS, implement its policies, seek out partnerships and establish guidelines to create more family-friendly housing and wide variety of housing types, sizes, tenures and prices can be offered in Coquitlam in the years to come.
For more info and to view the complete HAS: http://www.coquitlam.ca/city-hall/news-media/news-media-2015/2015/12/08/coquitlam-adopts-new-housing-affordability-strategy