The lack of affordable rental housing in Squamish has become a hot button issue, but beyond the discussion stage what is really being done to address the situation?
In a classic pre-election manoeuvre, Premier Christy Clark announced her government will partner with non-profit groups, local governments, community agencies and the private sector to build 2,900 rental units across the province. That proclamation included few details about specific communities and to what degree they will be blessed by the Liberal’s largesse. In other words, don’t count your rentals until they’re hatched.
There are some practical models out there when it comes to affordable rental housing. The City of Seattle gives developers a property tax exclusion on new structures for up to 12 years in exchange for a guarantee that 20 to 25 per cent of the units will be rented to tenants earning below the median income. As well, Seattle residents recently voted in favour of a new housing levy that will channel $290 million into the city’s affordable housing fund over the next seven years.
In Burlington, Vermont, a booming economy and rapid population growth put the squeeze on that city’s housing supply and threatened to displace low- and middle-income families.
To provide funding for new housing initiatives a trust fund was established, partially capitalized by a one-percent increase in property taxes. As well, an inclusionary zoning law was enacted which required market-rate residential projects to set aside 10 to 25 per cent of the units at rents affordable for modest income families and to keep them affordable for a fixed period.
Closer to home, in Brackendale at least 35 per cent of the proposed 170-acre Cheekye Fan development will be higher density multi-family housing and purpose-built rental units may be included in the project. In addition, a 250-unit rental apartment complex is in the works at the south end of downtown Squamish. Mayor Patricia Heintzman told The Chief she thought that plan was “awesome” and she said the district will take purpose-built rentals “anywhere, anytime.”
Another option for consideration is rental housing funded and managed by the municipality. But during a recent meeting of the Housing Task Force Select Committee, Heintzman noted that the district has a restricted capacity to borrow money, “so it would be really challenging for us to finance big projects.”
That being said, all the key economic sectors in Squamish are poised for a major expansion of their workforces, in particular the construction industry. As a result, added pressure will be put on an already accommodation challenged landscape.
Even with the projects presently on the drawing board, the powers-that-be will face a monumental rental housing shortage unless they step up their efforts.
