City of Courtenay Official Community Plan - 2026 update

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• 8,350 more housing units have been estimated to be required to accommodate the projected increase in population of 12,885 more residents over 2021 population estimates. Housing Needs Housing Needs Reports (HNR) legislative requirements were first established in 2019, requiring local governments to present such reports that describe current and anticipated housing needs in their communities. As part of recent legislative amendments in BC, local governments are now required to prepare Housing Needs Reports using the HNR Method to identify the 5- and 20-year housing needs in their communities. Municipalities must update their OCPs and zoning bylaws to accommodate the number of units identified. Housing Needs Reports must be updated every five years, as with OCPs, to ensure alignment with the 20 year housing needs identified in the Housing Needs Report. Therefore, this OCP presents Courtenay's housing needs identified in the 2024 HNR and are as follows: • Projected 20-year housing need by tenure: • 4,077 market ownership, • 1,993 market rental, • 747 affordable ownership, • Based on the findings of the HNR, market housing demand will likely focus more on 2- and 3- bedroom units; whereas, non-market solutions may distribute more to 0- and 1-bedroom dwellings. The overall anticipated 20-year housing need by dwelling unit size is as follows: • 1,219 affordable rental, • 315 supportive rental.

• Courtenay's population growth has coincided with notable price and rent increases over recent years, with the median home price appreciating 61% between 2019 and 2022 and the median apartment rent rising 54% between 2019 and 2023. • In 2021, approximately 11% of local households experienced Core Housing Need. Meeting the demand for affordable housing options is crucial, based on the forecasted need to supply below-market across both owner- and renter-occupied housing, and deeply affordable rental alternatives. Employment • While Courtenay is expected to continue to be the primary employment centre within the Comox Valley, Courtenay faces increasing pressure to provide sufficient land and space for employment and economic activities in addition to population growth and rising housing demand. • The employment land analysis of this OCP relies on a simplified methodology, using per capita estimates of employment space demand over the next 20 years, based on updated projections from the City's recent Development Cost Charges background study.

• 2,831 0-1 bedroom • 2,348 2 bedroom • 1,798 3 bedroom • 1,374 4+ bedroom.

City of Courtenay Official Community Plan