Building Momentum Together

2024 Spring

The wheels of implementation for BC’s housing strategy were set in motion last fall with the passage of key legislation prescribing the parameters, mechanisms and deliverables expected of municipalities to increase housing supply throughout the province. Some would argue that the consultation process was not nearly sufficient or that the expectations and time frames are unrealistic, but the reality is that the clock is now ticking.

Collectively, Bills 44, 46 and 47 represent an ambitious, some say historic, undertaking to solve the systemic issue of housing unaffordability in BC. And while many mayors welcome the need for reforms, some are concerned about the strains on local government finances and capacity: “This legislation challenges the principles of ‘growth paying for growth,’” said the Union of BC Municipalities, “and raises concerns that local government’s ongoing infrastructure challenges will be further impacted.”

We hear these concerns echoed in this issue’s article on Transit-Oriented Development (p. 14), which explores the inherent challenges in implementing massive housing development changes within an existing transit infrastructure. Yet, we don’t have the luxury of waiting for perfect conditions. The Honourable Rob Fleming has sat at both sides of the table – early on as a Victoria city councillor and now as BC Minister of Transportation and Infrastructure. “We’ve had to play catch up from the previous government, which neglected some key areas. We’ve changed some rules to be more responsive, and quicker, and to prepay for things like land and planning. We’ve got to keep doing more of that.” (full interview here).

The devil is always in the details. Like any major undertaking, unforeseen challenges will most certainly arise, and to create a path to success we need both levels of government to be true to their commitments of collaboration and compromise. Because the problem will not solve itself, nor by any single player acting alone.

THE AUTHOR

Baldev Gill

Baldev Gill is CEO of the Fraser Valley Real Estate Board

Issue 2 | 2024 Spring

Planes, Trains and Automobiles

BC’s housing strategy depends on infrastructure as much as inventory. Bringing all levels of government together to build it may be Minister Rob Fleming’s biggest challenge.
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Transit-Oriented Developments

For the Fraser Valley and other regions, getting there may not necessarily be half the fun.
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The Case for Regional Rail

A regional rail network could cut travel and commute times by up to 50% or more–but is it worth the price tag?
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BOARD NEWS

2024 FVREB Annual General Meeting

2024 FVREB Annual General Meeting
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ADVOCACY

Political Liaisons

FVREB meets with MLAs in Victoria as part of BCREA’s Government Liaison Days.
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From the CEO

Building Momentum Together

The clock is now ticking for BC’s housing strategy.
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From the Chair

Cooling Off Revisited

REALTORS® are beginning to see a ‘spring
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Insight

Generations Apart – Housing Affordability Then and Now

Brendon Ogmundson on the new generation gap.
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TRENDING

The High Cost of Being World-Class

When it comes to Top-10 lists, be careful what you wish for.
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Last Word

The housing affordability crisis is really a land affordability problem

Why didn’t adding so much new housing supply lower prices?
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