New Westminster — On Monday, December 9, 2019, New Westminster City Council endorsed the Inclusionary Housing Policy, which will contribute to New Westminster’s efforts to increase its supply of new affordable rental housing. The policy, now in effect, requires new strata residential and mixed-use residential development applications seeking rezoning to include below or non-market rental housing units.
“I believe the Inclusionary Housing Policy is a big step forward in addressing some of the city’s growing affordable housing needs,” said Mayor Jonathan X. Coté. “The policy helps ensure that our affordable rental housing stock continues to grow and also, that it goes to those who need it most.”
The policy is intended to provide guidance to property owners on the City’s expectation for the delivery, ownership and management of the inclusionary rental housing units and includes three options for applicants to choose from, ranging from the delivery of 5% to 20% of units as below or non-market rental. The policy also includes a number of other provisions, including how much rent can be charged, unit size and unit mix, and what incentives may be available.
In addition, the policy requires that the below and non-market units must be owned and/or managed by either a non-profit housing provider or BC Housing to ensure the units reach the intended tenants based on income.