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BC government orders three Metro Vancouver cities to add 8,600 homes
Another 10 cities across British Columbia have been issued new housing supply target orders. This represents the third set of municipal governments required to catalyze the completion — rather than just the approval — of a net gain in new homes over the next five years, through 2029. “The best way to solve the housing crisis and build more homes for people is by working together,” said Ravi Kahlon, BC Minister of Housing, in a statement today. “Our government is working closely with municipalities to ensure more homes are built in communities with the greatest needs. By having these targets, all levels of government will be able to align to address the housing crisis and help build more affordable housing for people in these communities for years to come.” The third set of cities includes the three Metro Vancouver jurisdictions of the City of New Westminster, City of Port Coquitlam, and City of Langley, which have a combined total target order of nearly 8,600 net new homes. The largest of the target orders is for the City of New Westminster, which has been given a quota of 4,432 new net homes to meet, including 2,133 ownership units and 2,298 secured purpose-built rental units, with 1,109 market rental units and 1,189 below-market units. As well, the municipal government should catalyze 67 supportive housing units. The overall unit size mix of the target order is 2,423 studio and one-bedroom units, 832 two-bedroom units, and 1,176 three-bedroom units. “The City of New Westminster has always valued our partnership with the Province in advancing our work to realize the needs of our community,” said New Westminster Mayor Patrick Johnstone in a statement today. “And now more than ever we need to work shoulder-to-shoulder to create communities that not only offer the necessary housing options for our citizens, but also provide the required and necessary services that residents need and deserve.” According to the municipal government’s standalone release in reaction to the provincial government’s announcement, the provincial target order for New Westminster is higher than the City’s 2021 Council-endorsed target of 5,841 net new units over 10 years, which was based on a provincially-mandated Housing Needs Report. The City of New Westminster also noted that the ambitious housing targets also require significant investments in infrastructure, park spaces, schools, and high-quality amenities. The provincial government notes that its set target orders are based on 75% of the provincial government’s estimated housing need for each municipality. The second largest target order of 2,279 units was provided to the City of Port Coquitlam. This includes 1,277 ownership units and 1,002 secured purpose-built rental units, with 494 market rental units and 508 below-market rental units, plus 50 supportive housing units. The overall unit size mix is 1,244 studio and one-bedroom units, 422 two-bedroom units, and 612 three-bedroom units. In reaction to the target order given to his municipal government today, Port Coquitlam Mayor Brad West criticized the provincial government’s focus on catalyzing smaller sized units, as opposed to more family-friendly units, which are defined as units with at least two bedrooms. “The Province’s one-size fits all housing order demands an overwhelming focus on studio/one bedroom units which it defines as 470 sqft & is already being cited by developers who’ve disliked our efforts to see family-friendly, livable homes,” wrote West on a post on X. There have been growing grumblings from numerous municipal governments over the impacts to local control over community planning and municipal revenue levels to fund public benefits and infrastructure. The City of Langley was provided with a target order of 1,844 units, including 1,034 ownership units and 810 secured purpose-built rental units. The provincial government has further prescribed a purpose-built rental housing tenure mix of 390 market rental units, 420 below-market rental units, and 23 supportive housing units, and a unit size mix of 987 studio and one-bedroom units, 348 two-bedroom units, and 508 three-bedroom units. “With Langley City’s forward-thinking official community plan, we are well on our way to meeting our provincial housing targets,” said Nathan Pachal, Mayor of Langley, in a statement. “These targets ensure that all local governments are doing their part to meet the housing needs of current and future British Columbians. Our housing targets identify the need for investment in affordable housing for people transitioning out of homelessness, workers, seniors, and families. We look forward to working with the Province to achieve these goals.” Before the end of this decade, Langley City Centre in the City of Langley will become the Expo Line’s new easternmost terminus station following the completion and opening of the new Surrey-Langley SkyTrain extension. While this opens up the potential for transit-oriented development, the developable building forms across a larger area of this particular jurisdiction are limited by the flight path height restrictions of the nearby Langley Regional Airport. The other seven cities in the third set of municipal government with target orders are the Fraser Valley jurisdiction of Mission (1,798 units), West Kelowna (2,266 units), Colwood (940 units), North Cowichan (1,233 units), Prince George (1,803 units), View Royal (585 units), and North Saanich (419 units). The combined target order for all 10 cities in this third set is a net gain of 17,599 new homes by 2029, which represents a 58% increase in overall housing to be built when compared to historical trends, according to the provincial government. Municipal governments will be evaluated after six
Photos | Real Estate | Traveller | vacation
Floating B.C. fishing lodge selling for the same as Vancouver condo
There’s getting away from the bustle of city life, and then there’s this. For those looking to get away from the city but stay near the ocean, “Hole in the Wall” could be the answer. The off-the-grid floating fishing lodge is located off of Nootka Sound on Vancouver Island’s west coast, in a little sheltered body of water called Critter Cove. It’s essentially two cabins floating on connected docks, along with picnic tables, a fire pit, and more. The lodge was built by a large family to create a place to fish and enjoy nature; as such, it has seven bedrooms and three bathrooms. Those looking to follow in the family’s footsteps could seek out salmon, halibut, spot prawns and more from the substantial structure. At $789,000 it’s relatively inexpensive when compared to other homes on B.C.’s coast; in Vancouver, a one- or two- bedroom condominium is what you’re looking at for the same price. That said, it’s unlikely to be a permanent residence, given its remoteness and how rough winters can be on the Pacific, even in a sheltered cove. It’s so remote the closest community is Gold River, an already relatively remote village; it’s 40 minutes away by boat. The village of Tahsis is also close, relatively speaking. However, it does have plenty on offer to hole up for a while: modern items like a dishwasher, satellite TV and a deep fryer (among other things). It should be noted that because it’s floating, no land is part of the deal.
'Renter | increase | Real Estate | rental | rental | Renters' | Uncategorized
Rent increase of 23.5% approved for landlord: RTB
Posted August 13, 2024 11:24 am. Last Updated August 13, 2024 11:42 am. Are the high interest rates of the last few years a reason enough to allow landlords to increase rents above the allowable limit? The Residential Tenancy Branch said that was the case in at least one ruling, where one landlord was approved to hike rents by 23.5 per cent over two years. In a decision posted earlier this year , the RTB said the landlords’ application for an additional increase of that amount over two years was approved, adding they “must impose this increase in accordance with the Act and the Regulation.” “I find the Landlords have been successful. They have proven, on a balance of probabilities, all the elements required to be able to impose an additional rent increase for a financial loss for financing costs of purchasing the residential property under section 23 of the Regulation,” the ruling reads. “The Landlords seek an additional rent increase of 23.5%. Section 23(4) of the Regulation states when considering an additional rent increase application for a financial loss for financing costs of purchasing the residential property, the director may order that the increase granted under subsection (1) be phased in over a period of time. I find this rent increase significant in one installment, and I order it may be applied over two years.” The RTB ruled that in the first year, the landlords were allowed to raise rents for each of the four units by 3.5 per cent — the annual allowable — plus an additional 12 per cent. The second year could rise by whatever the provincial maximum is set at, plus 11.5 per cent. The board explains that a landlord can apply for additional rent increases “if they, acting reasonably, have incurred a financial loss for the financing costs of purchasing the residential property, if the financing costs could not have been foreseen under reasonable circumstances.” The RTB says the landlords in this situation purchased the fourplex rental property — their first such building — in October 2021. Initially, their borrowing rate was 1.9 per cent “The landlords testified that they have always used a variable rate mortgage and at the time of setting up the mortgage, the rates had been stable. At the time, there was no definitive indication that the interest rate would increase as much as it did,” the board wrote. By July 2023, the RTB says the landlords’ mortgage rate jumped to 6.65 per cent. As of May 2024, the RTB said the landlords’ rate remained 6.65 per cent. Fixing their mortgage in 2023 was reportedly not an option, with the RTB saying the landlords’ noted they were “too early in their mortgage term” and that doing so would incur a penalty that was “very large.” However, tenants cited in the RTB’s decision argued that it was “reasonably foreseeable that the rate will change,” as the landlords had a variable rate mortgage. “The Landlords should enter these kinds of financing circumstances with a cushion to absorb the rate variability,” they said. “The Landlords reached out to the Tenants in April 2023 and asked if they would be agreeable to an additional rent increase over the annual allowable limit. Tenant M.S. said the Landlords asked the Tenants for a $500.00 per month increase. The Tenants were not agreeable. Some Tenants argued that this is the Landlords’ investment, so how can this be classified as a loss when the Landlords are ‘going to come away with a million dollar house,’” the ruling reads. As a standard, landlords in B.C. may only increase rents annually to a certain cap set by the provincial government. For 2024, the maximum was set at 3.5 per cent. “Tenants must pay the increased rent, unless the increase is unlawful,” the province states on its website. “Landlords can only increase rent if they provide tenants with at least 3 full months notice. Rent can only be increased once every 12 months and must be within the yearly rent increase limit, as set by the Residential Tenancy Branch.” LandlordBC CEO David Hutniak was not available for an interview. While he was unable to review this decision specifically, he tells 1130 NewsRadio via email that “our sector is experiencing huge fiscal challenges due to the escalating operational costs especially those out of our control like taxes, insurance, utilities, and fees.” “High interest rates have exacerbated an already bad situation. Furthermore, a steady stream of regulation, layered upon layer, with rent control being the most notable, are pushing more and more rental housing providers to abandon the sector” Hutniak wrote. “So although I’ve not reviewed this specific decision, the challenges this rental housing provider has experienced I know are not unique and the approved increase is likely deficient. Nevertheless, it is encouraging to see an Arbitrator at the RTB recognize the need to make the ruling that they did.” 1130 NewsRadio has reached out to the Ministry of Housing and the Tenant Resource and Advisory Centre for comment.
Co-Ownership Agreements
Sellers Knowing what your home is worth at the present market. Sign up for a Market Snapshot to see similar homes listed, recently sold, and expired in your neighborhood www.activeandsold.com Buyers Create your own Personal MLS Listings Search, the same system that is available to Realtors. Visit www.yourownmls.ca Co-Ownership Agreements Are Great Till Dispute Arises By Lisa…
Real Estate | Resort | vacation | Vancouver
Vancouver Island resort for sale costs less than some BC homes
If hospitality comes naturally to you, the Beachcomber RV Resort on Vancouver Island could be your dream property. Priced at $7.5 million, this unique resort offers an exceptional blend of proximity to the city with a serene, secluded atmosphere amidst the breathtaking Pacific Northwest scenery. Plus, it’s a more affordable option (with the chance to bring in revenue) compared to some of the province’s opulent mansions. Colliers International/Unique Properties Accessible via a picturesque rural road, Beachcomber RV Resort is 20 minutes from the Swartz Bay Ferry terminal and a short drive from downtown Victoria. The waterfront RV Park and campground features 60 seasonal RV sites with partial hookups with plenty of room to grow the resort. Nestled on just under 10 acres of stunning land, the Beachcomber RV Resort boasts over 1,300 lineal feet of low-bank, walk-on ocean frontage. Colliers International/Unique Properties The resort features three main components. The upper level, located at the end of Campion Road, is perched on a bluff with breathtaking views of the Southern Gulf Islands and Mount Baker. This area includes a 1,176-square-foot residence, perfect for enjoying the expansive vistas. The lower terrace, situated at sea level, is home to the RV park, which includes 60 seasonal RV sites — many just steps away from a beautiful, swimmable beach. Colliers International/Unique Properties The resort operates seasonally and generates income through the rental of serviced RV pads. Sites offer 15 and 30-amp power and water hookups. The resort’s 1,223-square-foot, two-bedroom caretaker’s home and office offer comfortable accommodation for an owner or manager, and the property’s flexibility allows for seasonal, nightly, or weekly rentals. Colliers International/Unique Properties As detailed in the listing, the Beachcomber RV Resort’s land designation means it could be rezoned to accommodate further tourist commercial development, such as cabins, a boutique resort, or even luxury residential development. In a market where $7.5 million might buy you a single-family mansion in Victoria, the Beachcomber RV Resort appears to offer some exceptional value and a unique chance to own a resort destination on Vancouver Island.
cars | court | Real Estate | Traffic | Transit
ICBC taken to court by driver who says he was wrongly blamed
Determining who is at fault when a traffic accident happens is part of the usual investigation process for ICBC insurance claims. One incident took things a step further when a driver claimed ICBC had incorrectly found him at fault and decided to escalate the situation in court. Kuldeep Gill filed a claim with the BC Civil Resolution Tribunal against ICBC for a review of ICBC’s liability finding and a refund of $3,190.93 in premiums he paid after he was involved in a motor vehicle accident in October 2021. In Gill’s version of events, he was driving westbound on Lougheed Highway when a vehicle hit the side of his truck as he was stopped in heavy traffic. Fortunately, neither his truck nor his empty trailer was damaged. When ICBC conducted its usual investigation protocol for the accident, it found a different account of events. The other driver involved in the accident told the insurance company that Gill had instead merged into the other vehicle’s lane and hit the vehicle. They said that due to the construction, Gill’s lane eventually needed to merge into theirs, but not at the point where the accident happened. ICBC also interviewed an independent party that had witnessed the accident. They said they “were driving behind Mr. Gill in the right lane when Mr. Gill tried to merge into the left lane and hit the other car.” They also told the insurance company that “there was nothing the other vehicle could have done to avoid being hit.” In addition to these statements, ICBC found that the damage was consistent with the account that Gill had turned into the other vehicle. Gill tried to argue his account of events by claiming that the other driver’s side mirror being flipped was evidence that they must have hit him. This argument did not hold up in court. The tribunal decided that Gill failed to prove that ICBC acted “unreasonably or improperly in investigating the accident and assigning fault.” It was also found that the $3,190.03 Gill claimed he paid in insurance premiums was the amount ICBC paid to repair the other vehicle in the accident. As such, the court dismissed Gill’s claims, and ICBC was not ordered to reimburse him.