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Statement by Mortgage Professionals Canada President & CEO on small-scale multi-unit homes in B.C.

Nov 1, 2023, 17:48 PM by Mortgage Professionals Canada

November 1, 2023 - Toronto, Ontario - Mortgage Professionals Canada

“The Province of British Columbia’s decision to bring forward new housing legislation and remove outdated zoning barriers is a significant step toward addressing the need for more housing and improving affordability. We have been actively championing the expansion of middle and multi-unit housing, the removal of outdated zoning obstacles, and the streamlining of home construction processes.

“These measures are a step in the right direction to boost supply and make more homes available and affordable. It's encouraging to see that policy recommendations we made to the Province are becoming a reality.

“Premier Eby's acknowledgment of the difficulties in finding suitable housing resonates with the experiences of countless people and families across B.C. The overreliance on high-rise condo towers and single-family homes has left a void, the missing middle. This gap can be closed with housing options that better fit within existing neighborhoods, giving people more choices that meet their needs.

“Moving forward, these changes could also help more young professionals and families looking to buy their first home the opportunity to get into the market. The commitment to expedite local housing development approvals and streamline permits brings much-needed certainty to both homebuyers and builders.

“We applaud the Province's dedication and commitment to addressing the current zoning challenges and accelerating the delivery of affordable housing. We look forward to our continued partnership and seeing the construction of over 130,000 new small-scale multi-unit homes in B.C. over the coming decade.

“The introduction of this new housing legislation is a pivotal move to address the housing crisis head-on.

“We commend the work that Premier Eby and the B.C. government are doing to play a leadership role in addressing the housing crisis. This legislation is another important step to increase housing supply that, combined with a focus on affordability, will help more British Columbians achieve the dream of homeownership.”

-       Lauren van den Berg, President & CEO, Mortgage Professionals Canada


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