More than twice the number of homes needed to meet British Columbia’s housing target have been created in the first year of the reporting period.
The City exceeded B.C.’s 659-unit housing target for year one with 1,477 net new units completed between October 1, 2023 and October 1, 2024. During that time, the City also issued 805 net new building permits and approved 1,713 new homes for rezoning. More than 160 below-market rental units have been completed since April.
“Housing remains a top priority for the City and this report confirms that our efforts are creating more homes for Victorians,” said Mayor Marianne Alto. “While we celebrate these achievements, there are still challenges ahead to meet the ongoing, critical need for affordable homes. Council and staff will continue to explore and act with bold and innovative solutions to tackle this crisis.”
After year one, the City is 30 per cent of the way to meeting the five-year provincial housing target of 4,902 homes – a target that aligns closely with goals already set by the City through its Victoria Housing Strategy. Victoria was one of 10 municipalities to be assigned a housing target from the Province in September 2023.
“We’re proud to report these numbers to the Province,” said Ross Soward, Manager of Housing at the City of Victoria. “Despite broader challenges to housing creation such as market forces and construction costs, the City is doing what it can, where it can. Our commitment to progress and partnerships is making a real difference.”
For more information on the City’s housing initiatives, visit victoria.ca/housing.
Media Contact:
Amelia Potvin
Manager, Communications and Engagement
250.858.8746 | apotvin@victoria.ca