On April 24, members of FVREB’s Stakeholder & Government Relations Committee were on hand at the Board-sponsored Cloverdale Chamber’s April Networking Breakfast to introduce Housing and Municipal Affairs Minister, Ravi Kahlon, and hear announcements regarding upcoming initiatives his ministry will be undertaking to improve housing.
Building Code Reform
Kahlon expressed his intention to convene a roundtable aimed at standardizing the Building Code. He acknowledged that inconsistency in regulations is not ideal and creates uncertainty and confusion for builders, homeowners and others in the sector.
While he did not provide details about which aspects of the Building Code will be subject to review, he signalled that reforms may introduce changes that enable or restrict specific features within various housing types. These updates could have implications for renovation standards, new construction requirements and parking requirements, amongst other considerations.
Mixed-Use Multiplexes
The Minister iterated his strong belief in the future of mixed-use multiplex developments, highlighting their potential to significantly expand housing supply, and calling them “one of the most effective tools for increasing available space.”
This may indicate a potential shift in development direction if the government begins to incentivize mixed-use multiplex developments. For REALTORS®, identifying where these trends are headed could provide critical guidance for clients regarding current and emerging demand. In anticipation, many have already begun familiarizing themselves with the implications for marketing, regulatory processes, and municipal bylaws and codes.
Reform of ACCs and DCCs
Minister Khalon recognizes that the current structure of Amenity Cost Charges (ACCs) and Development Cost Charges (DCCs), particularly the financial burden of upfront payments, presents a potential obstacle to development. In response, the Minister shared timely news: the province is exploring a shift in DCC payment schedules, moving them from the pre-construction phase to occupancy.
The potential to defer significant ACCs and DCCs would reduce financial pressure on developers and improve overall project viability, enabling earlier project starts. An increase in housing supply may, in turn, contribute to softening prices and improve market accessibility, particularly for first-time buyers.
Kahlon’s remarks were met with welcome optimism as he signaled that more legislative changes are on the way this fall. The SGRC will continue to follow and report out on provincial housing developments.