City of Courtenay Official Community Plan - 2026 update

-124

THE ROLE OF HOUSING IN MEETING OUR GOALS

Population growth trends and expected housing needs are identified in Part A. This OCP plans for an additional 12,885 people over the 2021 population, and a corresponding 8,350 more homes to be developed across Courtenay in accordance with Managing Growth policies (Part B). Courtenay’s 2024 Housing Needs Report (HNR) breaks down the 20-year housing demand by number of bedrooms:

Section 473 of the Local Government Act (LGA) references seven (7) classes of housing that span differences in tenure, location, affordability, supports and size to ensure the housing built meets the diverse needs of our growing community. These housing classes include: • affordable housing, • rental housing, • special needs housing, • seniors housing, • family housing, • housing in proximity to transit, and • shelters and housing for people at risk of homelessness. The OCP supports a number of strategies that aim to address Courtenay’s diverse housing needs. Ensuring the total housing supply keeps pace with market demand can temper rising costs and alleviate competition for existing below market housing. However, this must be supplemented by the creation of additional below market housing options that offer prices and rents affordable to households with lower-than-average incomes to ensure these residents continue to have opportunities within Courtenay. Key to achieving housing goals will be to ensure that the wide variety of players in the housing system are working proactively together towards mutually supportive goals. This includes ensuring that both the private and non-profit sectors can continue to viably provide housing for Courtenay residents.

Required number units

Unit type

0-to-1 bedroom

2,831 2,348 1,798 1,374

2-bedrooms 3-bedroom 4+ bedroom

Table C–2 Anticipated housing demand by units per required number of bedrooms.

The 2024 Housing Needs Report also projects what Courtenay can expect in terms of the amount of market versus non-market housing needed, based on the anticipated demand. It identifies that market housing should remain the primary contributor to the local inventory (approximately 73%), though there is a clear need for non-market interventions to provide for deeply affordable and below-market units (approximately 27%). There will also be a growing role for non-profit organizations to provide and manage housing with funding and assistance from senior governments. Housing Needs Reports are now required of all local governments in BC, and must be updated every five years. These five-year updated reports will support better monitoring of housing needs as Courtenay grows.

City of Courtenay Official Community Plan