In an effort to address the housing crisis in British Columbia, the provincial government has introduced Bill 44, also known as the Housing Statutes (Residential Development) Amendment Act, 2023. This legislation is a critical component of the Homes for People action plan, which seeks to significantly increase the availability of affordable housing across the province. For Squamish, a community facing significant housing pressures, the implications of Bill 44 are profound.
Key Changes Under Bill 44
- New R-1 Zoning: The District of Squamish is replacing the RS-1, RS-2, and RS-3 zoning with a new Residential 1 (R-1) zone. This new zoning will permit single-unit dwellings, two-unit dwellings, and Multiple Dwelling Residential (MDR) units on residential lots, increasing the potential housing density.
- Increased Lot Coverage and Density: The legislation allows for higher lot coverage (up to 50% for MDR use) and increased density, with up to four stratified MDR units permitted per lot, plus an additional rental unit.
- Parking Requirement Adjustments: Bill 44 includes provisions to reduce off-street parking requirements for secondary suites, ADUs, and multi-unit flex units. This change is designed to incentivize the development of more rental housing by reducing the costs associated with providing additional parking spaces.
Implications for Squamish Housing Market
- Accelerated Housing Development: By simplifying zoning regulations and reducing the need for public hearings for certain residential developments, Bill 44 is expected to expedite the creation of new housing units in Squamish. The introduction of the new R-1 zone is particularly significant, as it allows for a broader range of housing types and greater density, which could help meet the demand for affordable housing in the area.
- Impact on Real Estate Values: The changes to zoning and density regulations may also affect property values in Squamish. With the potential for higher-density developments, landowners could see an increase in property value, particularly for lots that can accommodate multiple dwelling units.
- Support for Affordable Housing: Bill 44 is aligned with the District of Squamish’s ongoing efforts to increase the supply of affordable housing. The legislation supports the goals outlined in the Squamish Housing Action Plan, which aims to create 6,840 new housing units by 2031 to meet the needs of a growing population.
Bill 44 represents a significant shift in housing policy for Squamish and the broader region. By facilitating higher-density developments and reducing regulatory barriers, this legislation has the potential to make a meaningful impact on the availability of affordable housing in Squamish. For residents and investors alike, understanding the nuances of these changes is essential as the community continues to evolve.
