Greater Vancouver Housing Affordability Symposium 2012

How can we make housing more affordable so that it’s within the means of all British Columbians?

A diverse group of industry and government stakeholders met to brainstorm solutions on February 2-3, 2012 at the second annual Housing Affordability Symposium.

Speakers included:

• Hon. Rich Coleman, BC Minister Responsible for Housing.
• Mayor Richard Stewart, City of Coquitlam.
• Councillor Geoff Meggs, City of Vancouver.
• Bob Ransford, Vancouver Sun
• Columnist and Senior Consul- tant, Counterpoint Communications.
• Michael Geller, architect, plan- ner and SFU adjunct professor.
• Tsur Somerville, Director, UBC Centre for Urban Economics and Real Estate.
• Doug Wittal, President, Canadian Home Builders’ Association of BC.
• Christina DeMarco, Manager, Regional Development Division, Metro Vancouver.

Unique and innovative affordable housing solutions discussed include:

• small lot and small scale development such as cottage homes (less than 1,200 sq. ft.) in pocket neighbourhoods;
• secondary suites and lane way homes;
• freehold townhomes;
• flexible housing including condominiums with lock-off bedrooms and secondary suites; and
• transit-oriented density (higher density at transit nodes)

City of Langford director of planning Matthew Baldwin talked about his city’s award-winning affordable housing program.

Since 2004, Langford has provided lower-income families with homes in new developments through an inclusionary zoning requirement which obliges developers to build one affordable home for every 10 single-family lots subdivided. Affordable homes are priced at 60% of market value. Langford, partnering with CMHC, provides incentives to developers including free administrative support, density bonuses and streamlined development approvals.

Langford also requires new developments to be Building Code-ready for secondary suites. For every new dwelling, developers must contribute $500 to the city’s Affordable Housing Reserve Fund, which is used to fund a rent subsidy program and the construc- tion of new subsidized units.

If you have any real estate questions or if you are thinking of buying or selling your home, please contact James Louie Chung, Metro Vancouver REALTOR® at [email protected] or call / text ( 6 0 4 ) 7 1 9 — 6 3 2 8 today!

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