The Metro Vancouver Housing Corporation, a part of the Metro Vancouver Regional District, builds and directly manages affordable housing throughout our region. Today, it has a portfolio of 4,491 housing units, making it one of the largest affordable housing operations in the region. The Corporation's operating costs are self-funding, though funding to build new housing comes from other levels of government and the Regional District.
The Housing Corporation is currently updating its 10-year plan. There are five main areas it is looking to update.
The first area is whether it should slow down, maintain, or increase the pace of building new housing units. The pace is primarily driven by funding commitments from the federal and provincial governments.
The second area is whether the Housing Corporation should continue to partner with member municipalities and the private sector or just the private sector to deliver new housing units.
The third area is to examine the affordability and unit-mix targets for its housing. Today, the target is to have 30% of its total housing units with Rent-Geared-to-Income and 70% of its units with 2- or more bedrooms.
The fourth area is where to focus on developing new housing. For example, the Housing Corporation does not have any sites in Langley City or Township. Should the Housing Corporation focus on creating a sub-regional balance or continue its current approach on sites where opportunities present themselves?
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Table showing Metro Vancouver Housing Corporation units by sub-region. Select the table to enlarge. |
The final area concerns the type and scope of tenant programs and services to provide.
The Metro Vancouver Housing Corporation is well-regarded and accountable to the people of our region, as it receives limited funding through our property taxes. I am hopeful that the Corporation will continue to build on its success, increasing the number of units it can deliver, including here in Langley City.
Image Source: https://metrovancouver.org/services/housing/facility/pinewood-place