New housing strategy coming to BC
Provincial government will unveil this fall
B.C. cabinet minister Rich Coleman says he will unveil a new provincial housing strategy this fall that will address a number of challenges faced by British Columbians, "from homelessness to home ownership.''
"We want to change the opportunities that exist for people in B.C.,'' said the minister of forests and range, who also has responsibility for housing. Coleman said his strategy will include a number of components "that are going to help us deal with the very vulnerable – the mentally ill, the mentally handicapped, the disabled – within our housing structure that are hard to house, people that can't normally be helped within the marketplace.''
The strategy will "also extend itself into the marketplace to other folks that need assistance,'' Coleman promised. Although he offered no specifics, Coleman hinted the strategy would include room for participation of both the private sector and non-profit organizations.
Coleman noted that secondary suites are an important part of B.C.'s housing strategy and that municipalities need to embrace their use. As chairman of the federal-provincial-territorial housing ministers' committee, Coleman says he is working with Ottawa to try to change the tax structure that has made building rental properties impractical for nearly 35 years.
BC REALTORS® met with Members of the Legislative Assembly in late April to present three recommendations to help address housing needs in the province. At that time, they asked the provincial government to introduce a public consultation process to identify ways to expand housing options throughout BC, and recommended the government use the Property Transfer Tax to expand housing options.
BCREA also recommends the provincial government lobby the federal government to keep its campaign promises, which include working with the provinces and municipalities to develop tax incentives for builders and allowing capital gains rollover provisions for small-scale investors.
“Access to affordable market housing and rental accommodation help people to get ahead and communities to grow,” explained BCREA President Dave Barclay. “When that happens, the entire province prospers.”
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