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
Dangerous brew: Ocean heat and La Nina combo likely mean more Atlantic hurricanes this summer
Get ready for what nearly all the experts think will be one of the busiest Atlantic hurricane seasons on record, thanks to unprecedented ocean heat and a brewing La Nina.
'Looking over our shoulders': A killing looms large in a little B.C. town
Something shifted in the pretty little village of Lumby, B.C., after Tatjana Stefanski vanished.
Officer who arrested Scottie Scheffler is being disciplined for not having bodycam activated
The Kentucky police officer who arrested top-ranked golfer Scottie Scheffler outside the PGA Championship is receiving “corrective action” for failing to have his body-worn camera activated.
Hundreds have applied for this 'adventurer' job in Banff National Park
Coined as Banff's 'ultimate summer job,' the Moraine Lake Bus Company says hundreds of people from across the world have applied for its adventurer position.
Potential tornado 'surreal' for residents who witnessed damaging storm in southern Ontario
Witnessing a potential tornado was 'surreal' for residents who caught a glimpse of the damaging storm in southern Ontario on Wednesday night.
Jennifer Lopez's response to question about Ben Affleck is a reminder of their decades of love in the spotlight
Plenty of people are wondering if Jennifer Lopez and Ben Affleck are having problems in their marriage, but one person had the nerve to ask in a public forum.
Was this the bug that stung you? Wasp sightings revive murder-hornet concerns; no detections confirmed
As temperatures rise out of a mild El Nino winter, Canada's buggy season is already upon us again, and this year, the bugs are looking especially big.
New bill would let Canadians pass citizenship rights down to children born abroad
A new government bill tabled in the House of Commons on Thursday would allow Canadians to pass citizenship rights down to their children born outside the country — a move that would add an unknown number of new citizens.
WestJet planning new fare category for travellers willing to forgo carry-on bag
WestJet Airlines plans to launch a new cheaper fare category that would be available to travellers willing to fly without a carry-on bag.