BC Increasing Lot Density in Around Town
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The B.C. government expects to introduce provincial legislation this fall to allow up to four units on a single-family lot with additional density permitted in areas well served by transit. If approved, the legislation will reduce requirements for rezoning to build a duplex, triplex or a fourplex.
Additional legislation will also be introduced to allow secondary suites in every community across the province. The change is part of a new provincial housing policy announced in early April, which will also include incentives for homeowners to renovate their homes to add low-cost rental accommodation.
In 2024, up to 3,000 homeowners will be able to access a forgivable loan of 50 per cent of the cost of renovations, up to a maximum of $40,000, if they are willing to rent those secondary suites at below market rate for at least five years.
The intention is to create small scale, multiunit homes that are needed to address the province’s housing crisis, adding both middle-class housing and affordable rental units in a competitive real estate and rental market.
In 2018, the province’s New Democratic Party government promised to have 114,000 new homes completed or under active construction by 2027 and committed $7-billion over 10-years as part of their “Homes for BC” plan. Figures also released in early April suggest the province is on-track with 75,000 homes open or under construction.
Source: Globe and Mail.
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