On September 26, 2023, the Province of BC issued Housing Targets for the City of Abbotsford under the Housing Supply Act.
The City of Abbotsford is keenly aware of the housing challenges in our community and we are committed to doing our part in implementing housing solutions for our growing City. Although the housing targets released by the Province are ambitious for Abbotsford, we are committed to enhancing housing opportunities for all of our present and future residents.
The Housing Target Order came into effect on October 1, 2023. The order sets out the total five-year housing target to be met by September 30, 2028, and annual cumulative housing targets (Schedule A), housing target performance indicators (Schedule B), and progress reporting dates (Schedule C).
We know that with housing increases, communities will also need to ensure that we have continued investments in our municipal infrastructure and other critical service areas. We are continuing to work closely with the Province to secure the funding and supports that will help us in being successful in making meaningful progress toward our housing targets, while maintaining a high level of services for our community.
City of Abbotsford Targets:
The order establishes a five year housing target for Abbotsford of 7,240 net new completed units (new minus demolished units). Annual reports to the Province are required to demonstrate progress towards the following cumulative annual thresholds:
|Net New Units||Cumulative Target|
In addition to the housing target order, the Province has provided Housing Target Guidelines for housing by size (# of bedrooms), tenure (rental vs. owned), and affordability (market vs. below-market).
Housing Supply Act Background
In May 2023, the Province of BC brought into force the Housing Supply Act to help increase the amount and pace of new housing by giving the Province authority to set housing targets for 47 municipalities that are prescribed under the Housing Supply Regulation.
The first 10 municipalities were announced in May 2023 and consulted during July and August of this year. The Province has issued housing target orders for the first 10 municipalities by ministerial order, which sets out the total minimum number of net new housing units that must be completed each year over a five-year period. Net new means new units that are ready for move in, minus units that were lost through demolition.
Housing targets will be measured after the first six months, then annually by net new units completed and actions taken by the municipality to meet the targets. If the cumulative annual housing target has not been met, the municipality will be required to submit planned actions they will take within two years to meet the target.
The Ministry of Housing has committed to review 16 to 20 municipalities for housing target assessment each year to address supply and affordability of housing. The ministry consults municipalities to understand community housing needs and set targets with careful consideration for local planning and land use.
Read more about the Province’s Housing Supply Act and Housing Targets.