B.C. Premier David Eby, days after he officially succeeded John Horgan, announced some of the ways in which his government is going to address the province’s housing crisis. Starting December 7, housing will have its own stand-alone ministry — its official name will be known that day.
For home owners and buyers, the key is the “build the homes” part. To that end, the government introduced a 100-day plan.
Premier Eby made the announcement this week, the day after the Provincial Government introduced new laws “to build the homes people need, make it possible for homes that are vacant to be rented, and remove discriminatory age and rental restrictions in stratas that hurt young families.”
For home owners and buyers, the key is the “build the homes” part. To that end, the government introduced a 100-day plan. “As a first step,” he said, “we are making changes to deliver more homes for British Columbians, faster. We will work with municipalities to set housing targets and make sure the homes people need get built.”
The lack of supply, more than anything, is what currently drives the real estate market throughout the Lower Mainland. In its news release, the province pledged 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.”
If passed, the housing supply act is scheduled to be brought into force in mid-2023.
Watch for more in the upcoming monthly newsletter News From Nexus, during the early days of December.