Housing Central partners call on all parties to expand B.C.’s community housing stock to address urgent, growing, unmet housing need

Press Release

Unceded territories of the xʷməθkʷə y̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish) and səlilwətaɬ (Tsleil-Waututh) Nations, known as Vancouver, B.C. (September 16, 2024) – With British Columbia’s provincial election now five weeks away, the Housing Central partners are calling on all parties to respond to the urgent need for targeted action to address the ongoing affordable housing crisis. Housing Central’s Build More. Protect More. A New Affordable Housing Plan for BC details current and projected affordable housing needs with solutions that will support renters and Indigenous peoples, and grow the supply of affordable homes across B.C.

Build More

Housing Central’s data-driven analysis found that we will need to build 12,500 new rental homes per year over the next 10 years that are affordable to households with incomes $50,000 and under to address current and future supply challenges. Included in this total is 3,000 homes that will address the critical shortage of homes for Urban, Rural and Northern Indigenous peoples, as well as 500 supportive housing units.

Protect More

We are losing affordable homes in the private market faster than we can build them. We also have an opportunity to build on the success of the BC Rental Protection Fund, enabling non-profits and co-ops to purchase existing rentals and lock in their affordability. An additional provincial investment of $50 million annually will help to secure 2,000 new affordable homes if other partners do their part.

The existing supply of non-profit homes is aging and has decades of unfunded liabilities. A provincial investment of $186 million annually is required to bring our existing stock up to good condition.

Investment in Housing to Meet Need

The total investment in new, protected and repaired affordable housing required to address the housing crisis in British Columbia is $6.7 billion per year for the next 10 years between all levels of government and community partners. The provincial contribution for meeting these targets is $2.29 billion annually.

“Whether through new or existing units, direct investment by governments in community housing ensures fair access to affordable housing for those who need it,” said Jill Atkey, CEO of BC Non-Profit Housing Association. “While significant progress has been made, the next government will need to double down on investment into the community housing sector to ensure that everyone in British Columbia has a safe, secure and affordable place to call home.”

Build More. Protect More. A New Affordable Housing Plan for BC also outlines the importance of funding the Urban, Rural and Northern Indigenous Housing strategy put forward by the Aboriginal Housing Management Association (AHMA) to target unmet housing need, prevent growing experiences of homelessness, and respect Indigenous peoples’ right to cultural safety and self-determination in housing.

“AHMA created an Indigenous Housing Strategy because we knew that the right solutions for Indigenous peoples have to be led by Indigenous peoples. Investment in the Affordable Housing Plan and our strategy will equitably prioritize the thousands of Indigenous peoples in unmet housing need as quickly as possible,” said Margaret Pfoh, CEO of AHMA.

Housing Central’s recommendations come from direct evidence and first-hand experience in the sector. However, these ideas are also supported by British Columbians through recent survey data. More than nine-in-ten British Columbians (92%) think it is important to invest in housing to maintain affordability relative to local incomes and almost nine-in-ten British Columbians (89%) think it is important to prevent the loss of affordable housing. Further, the majority of British Columbians support a dedicated Indigenous housing strategy to advance reconciliation.

“The community housing sector has demonstrated its ability to be a valued partner in building and operating well-maintained homes that empower tenants and co-op members and offer long-term security of tenure,” said Thom Armstrong, CEO of the Co-operative Housing Federation of BC. ”We know that the private market alone cannot create the broad range of homes needed, which is why building new community housing and protecting homes that are already affordable across the province is crucial.”

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About Housing Central

The mission of the Housing Central partners – BC Non-Profit Housing Association (BCNPHA), the Aboriginal Housing Management Association (AHMA) and the Co-operative Housing Federation of BC (CHF BC) – is to strengthen and grow the community housing sector so all British Columbians have a safe, secure home they can afford.

For more information, please visit housingcentral.ca

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