YOUR PERSPECTIVE: Prioritizing housing in British Columbia

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Older multi-unit buildings that in the past have provided affordable units for renters are increasingly being bought and renovated or torn down and rebuilt by developers or speculators, displacing residents, and dramatically increasing the rent to prices that are no longer affordable to those who used to live there.

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That’s why our government has announced a $500-million Rental Protection Fund that will protect renters from profiteers and housing speculators by enabling community housing partners to purchase or refurbish rental buildings that are at risk of redevelopment without driving up the price of rent. It will also allow for these partners to purchase Co-operative buildings that may see a rent increase under new ownership.

People are at the heart of community and non-profit organizations. As Parliamentary Secretary for Community Development and Non-profits I am thrilled that our government is providing them with funding that will help ensure that more of these buildings are preserved across the province and that people can afford rentals in their communities.

The Rental Protection Fund is in addition to other recent announcements we have made to provide more housing for British Columbians.

Last week we also announced a new permitting strategy that will apply a one-stop-shop approach for permits needed to build multi-unit housing, which can be long and involve many different ministries. This new initiative will speed-up the approval process for housing projects and prioritize housing in places where it’s needed most like Indigenous communities or communities with the lowest vacancy rates and the most demand.

These new housing initiatives as well as our recent announcements on creating more access to empty condos, the homebuyer protection period, or the record amount of housing our government has already invested in from supportive housing to affordable rentals are to make sure that British Columbians have a place to call home.

We know that there is more to do, and I’m confident that our government will continue putting their all into creating attainable and affordable housing for British Columbians.

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Editor’s Note: This opinion piece reflects the views of its author, and does not necessarily represent the views of Fraser Valley Today or Pattison Media.