By Cheryl Jahn

UBCM hosts Housing Summit

Feb 14, 2024 | 3:03 PM

PRINCE GEORGE – “Make no mistake, the current situation is dire, but I am hopeful. Things are beginning to improve and here’s why. Each order of government – local, provincial and federal – has tools and powers to contribute to restoring affordability and attainability in BC.”

That is the president of the Union of BC Municipalities, which is hosting its first-ever housing summit to look at the challenges and possible solutions to the crisis in housing. And even though Prince George has added rental housing in recent years, it is still problematic.

“Affordable housing is based on no than 30 percent of their earning wages,” says Mayor Simon Yu. “Now, that is not the case. We’re talking about young professionals having to pay over 50 percent sometimes. So that is very bad for the economy.”

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Prince George is not immune, but government has added a plan to deliver more low- to middle-income rental units.

“The Premier has committed to the purchase of some rental units and the expediting the construction of rental units. The announcement, based on the private sector by itself, seems not able to meet the crisis. So the government has decided to step in.”

“That’s why we’re launching BC Builds, which gets us into the game to build housing that the middle class can afford both rental and in the future, very near future ownership as well, using government financing as well as some grants if it’s needed,” says Housing Minister Ravi Kahlon. “But we’re also eliminating the profit margin. And so that means that we’ll be able to build this housing in partnership with the private sector and keep it in non-for-profit hands into the future.”

BC builds plans to have things moved from concept to construction within 12 to 18 months.