A recent opinion piece argues that British Columbia's severe housing crisis is being exacerbated by political "photo opportunities" that divert funds and attention from effective, large-scale solutions. The author contends that while federal proposals to boost housing construction are welcome, provincial efforts have fallen short, prioritizing high-profile, often expensive projects over practical needs.
The federal government's recent election promises to double housing construction, reduce red tape, and cut development fees are seen as potentially beneficial. However, the opinion piece highlights a stark contrast with the provincial government's track record. Eight years after committing to build 114,000 affordable homes, BC Housing figures indicate only a fraction of that goal has been met, with just over 3,000 completions in the last fiscal year. This slow pace has led to the provincial government reportedly including housing projects they had no hand in building in their official figures.
The article criticizes specific provincial projects, such as a planned affordable housing development on a prime waterfront site in North Vancouver and 110 affordable rental units at Sun Peaks Mountain Resort. The author questions the rationale behind these choices, pointing out that the homeless population in Vancouver alone far exceeds the population of Sun Peaks, and that redevelopment pressure is minimal in areas where the Rental Protection Fund has been applied.
The authors propose that instead of focusing on projects that generate positive press, the government should explore more efficient and cost-effective methods. One significant opportunity lies in subsidizing the mandated inclusionary zoning units that are becoming common in Metro Vancouver. These units, intended to be below-market rental, are currently at risk of never being built due to rising construction costs and softening market rents, leading to substantial potential losses for developers.
By partnering with the private sector and providing financial assistance for these inclusionary zoning units, the government could facilitate the creation of a considerable number of affordable homes. The piece concludes with a hope that the federal government will prioritize tangible results over political posturing in addressing the housing crisis.