NDP roll out secondary suite program, but critics challenge how effective it will be
B.C.'s NDP government launched its latest measure to address the housing affordability crisis Thursday: a secondary suite program that gives homeowners up to $40,000 in forgivable loans to build a suite or laneway home on their primary property, if they agree to rent it out at below market rates for five years.
“One group of people who've come forward and really wanted to provide housing, wanted to provide additional housing units, are people who are already homeowners,” said Premier David Eby on Thursday when announcing the launch.
The rents are set by the province, based on the community. For example, in Vancouver, a two-bedroom suite is capped this year at $2,100 per month. In Kelowna, it's just under $1,836, and in Victoria, it’s $1,760.
Although secondary suites have been greenlit by the NDP across B.C., the program still requires homeowners to get occupancy and building permits – red tape handled at the municipal level that could add significantly to the time and cost of the process, according to Realtor Marko Juras.
“(It means) doing those various inspections, dealing with a lot of headaches in these older houses, which will probably – in my opinion – eat into all of that $40,000,” said Juras.
And BC United leader Kevin Falcon points out that despite a flurry of housing announcements since last fall, real estate prices and rents haven't dropped in the past six months. The latest real estate figures show sale prices have inched up in Vancouver.
“We now have the most unaffordable housing prices in North America, and we have the highest rents in the entire country. Those are very poor results,” said Falcon.
Eby responded Thursday that many of the new measures – like short-term rental restrictions – had not been fully implemented, but would be soon. He also pointed to the large numbers of people moving into the province.
“For those that are frustrated, I get it,” he said. “We have about 10,000 people every 37 days moving into the province.”
The three-year pilot project is capped at 1,000 secondary suites a year. The government says there’s been lots of interest already, with 5,000 people registering for updates on the program.
How many secondary suites actually get built and when is another question.
CTVNews.ca Top Stories
Serial sexual offender linked to unsolved 1970s homicides of four Calgary girls, women
An investigation into unsolved historical homicides from the 1970s has linked the deaths of two girls and two young women in and around Calgary to a now-deceased serial offender.
Woman with liver failure rejected for a transplant after medical review highlights alcohol use
For nearly three months, Amanda Huska has been in an Ontario hospital, part of it on life support, because of severe liver failure. Her history of alcohol use is getting in the way of her only potential treatment: a liver transplant.
Banking mogul suing government after intelligence leaks leave him shut out of Canadian economy
Chinese Canadian banking mogul Shenglin Xian has launched a $300 million lawsuit against the federal government. It’s a means to find the source of intelligence leaks which Xian says has cost him his livelihood.
Slovak prime minister still in serious condition as suspect appears in court
Slovak Prime Minister Robert Fico's condition was stable but serious Saturday as the man accused of trying to assassinate him faced his first court appearance.
The Mona Lisa was set in this surprising Italian town, geologist claims
Leonardo da Vinci’s Mona Lisa — one of the most famous paintings in the world — is shrouded in mystery; from questions around the figure's identity, to her puzzling, enigmatic expression. Now, at least one of the artwork’s secrets has been revealed, according to a geologist based in Italy.
$500K-worth of elvers seized at Toronto airport
Fishery and border service officers seized more than 100 kilograms of unauthorized elvers at the Toronto Pearson International Airport on Wednesday.
N.B. man takes talent to the air, hoping others catch his love for extreme pogo stick performing
Duncan Murray is one of only a handful of Canadians to be considered a professional extreme pogo athlete.
Information commissioner faces $700K funding shortfall, says system is 'overwhelmed'
Canada's information commissioner says her office is facing a $700,000 funding shortfall that could impact its ability to investigate complaints about government transparency and accountability.
Oilers focus on Saturday's game, try to ignore prospect of elimination from playoffs
They're on the verge of being eliminated, but there's only one thing the Edmonton Oilers can do, says their coach: Remain focused.