Effective August 1, 2024, the Province of British Columbia issued a Housing Target Order (HTO) to the City of Prince George, aiming to complete at least 1,803 net new housing units over the next 5 years. "Net new" refers to new, move-in-ready units minus those lost through demolition.
Order breakdown
This target is based on 75% of the Province’s estimate of housing need for the City (2,404 units) over the next 5 years. With the HTO, the Province included a breakdown of guidelines for desired unit and tenure types, and affordability based on estimate need. These guidelines are not mandatory for the City to meet, but are intended to be used to create housing that meets the specific needs of our residents, such as affordable rental housing for families.
Progress reports
The HTO annual targets set a minimum total of 575 net new units to be completed between August 1, 2024 and July 31, 2026. This target was exceeded, with 663 net new units completed during this time. With the Year 2 reporting period finished, 37% of the overall 5-year HTO target is complete.
Housing Supply Act background
In May 2023, the Province of British Columbia implemented the Housing Supply Act to boost the quantity and speed of new housing developments. This legislation empowers the Province to establish housing targets for 47 municipalities, as specified under the Housing Supply Regulation. Prince George is included in the third cohort of municipalities selected for Housing Target Orders.
Housing target progress is evaluated after the first six months and then annually, based on net new units completed and municipal actions taken to meet these targets. If a municipality fails to meet the cumulative annual housing target, it must submit a plan detailing actions it will take to achieve the target and work with the Ministry to realize housing goals.
The Ministry of Housing has committed to reviewing 16 to 20 municipalities annually to assess housing targets and address housing supply and affordability. The ministry collaborates with municipalities to understand community housing needs and set targets with careful consideration for local planning and land use.
Role of the City
The Housing Target Order presents a significant opportunity to advance the City of Prince George's existing initiatives, enhance the availability and accuracy of housing completion data, and align Mayor and Council’s strategic priorities with housing development efforts.
Regular progress reporting will track housing completions, building permits issued, and projects in the development pipeline, as well as steps taken by the Municipality to update policies and procedures in support of increased housing.