Build family housing…or you’re not welcome.
The City of New Westminster is coming down hard on developers with a new law that forces them to include affordable family housing units in new buildings.
Mayor Jonathan Coté says it passed a law to mandate minimum percentages of three-bedroom units.
“We are often finding that the units are getting a lot smaller, and the number of bedrooms are getting smaller, and even though the return on investment may not be the same with three bedroom units, we are not just building housing developments in our city, but we are building communities, and we want to ensure there are housing options for a variety of different family types.”
Coté says at least 10% of all multi-family ownership projects MUST include three-bedroom units, and at least 5% in multi-family rental projects.
“I am hoping this will actually start a discussion in many other communities, particularly cities that are built out like Vancouver and Burnaby that don’t have a lot of land and most of their development is going to be multi-family, I think it is a good conversation to have.”
To make sure families can afford these units, the city wants developers to place them in the lower priced per square footage portions of the buildings.
The City of Vancouver is also moving to create more affordable family housing by offering incentives to developers.