‘It’s a starting point:’ Nanaimo advances pre-zoning properties for subsidized housing

Eligible developments under the option zoning would need to ensure 20 per cent of their total units were subsidized and offered for 20 per cent below market rents for comparable units.

Market rates would be taken from data provided by the Canadian Mortgage and Housing Corporation (CMHC).

Biegun told councillors the engagement they’ve undertaken with non-profit and for-profit housing groups, faith-based organizations, and developers showed there were differing views on the level of subsidy required.

She added the bylaw can be refined over time as real-world data is collected.

“It’s a starting point, and it gives us an opportunity to amend it if we’re seeing that it’s not affordable, but we also have to make sure that it is financially viable for development to come forward. It’s a recommendation right now that we start at 20 per cent below market and then see how the program progresses over time.”

Despite supporting the bylaw amendment in principle, coun. Ben Geselbracht expressed some concerns about its tangible benefits.

He noted a unit offered for an average of $1,800 on the market would be subsidized down to just over $1,400 under this bylaw, keeping it still out of reach for many.

“I am concerned that we’ll prezone a bunch of properties and get something that really isn’t that affordable for the actual demographics we’re trying to hit.”

The proposed bylaw amendment is still subject to public hearing, to be scheduled at a later date by the City, as well as third reading and final adoption at a future Council meeting.

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by Alex Rawnsley

‘It’s a starting point:’ Nanaimo advances pre-zoning properties for subsidized housing

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