Campbell River is getting $10.4 million to fast-track desperately-needed housing developments.
The city and federal government announced the funding this afternoon, which will come from the federal Housing Accelerator Fund.
“This is an exciting announcement for Campbell River,” said Mayor Kermit Dahl in a news release. “As in many other communities in Canada, finding attainable, affordable accommodation is a challenge for many in our community, which is why housing is a key priority for this Council.”
Dahl said the funding will help the city address these challenges at a local level.
“We want to ensure that available housing meets the community’s diverse needs,” he said. “To do this, a mix of housing types will be developed to support housing affordability, aging in place and increasing rental stock. Campbell River is an incredible city, and we want to help make housing attainable for residents and prospective residents.”
The city will use the funding “to address barriers to development” and fast-track 282 housing units in Campbell River over the next three years.
The city plans to fast-track a total of 1,200 housing units during the next three years, including the 282 announced today.
The money from Ottawa will cover the costs for the city to address several barriers to development, including:
- Parking standards
- Expediting the development approvals process
- Pre-zoning lands
- Exploring ways to incentivize small-scale, multi-unit housing (such as secondary suites, garden suites, triplexes, townhomes and house-plexes) and affordable housing
- Changes to the City’s Official Community Plan and Zoning Bylaw, to make sure it complies with recent provincial legislation encouraging housing development
