Coquitlam issues Interim Housing Needs Report Update to align with provincial requirements.
Coquitlam is fulfilling its responsibilities under recently established provincial housing legislation with the completion of an Interim Housing Needs Report Update.
Building on the City’s 2022 Housing Needs Report, this update will shape housing policies and land use planning until a comprehensive update arrives in 2028.
Mandated by the Province as of 2019, Housing Needs Reports aim to give communities a clearer picture of both present and future housing necessities. Coquitlam’s 2024 Interim Report, available online, adds new provincially required elements, including standardized housing forecasts for the City over five- and 20-year spans, targeting 2026 and 2041 respectively.
The 2024 Legislated Interim Update projects a necessity for 43,253 new homes by 2041, translating to approximately 2,160 new units annually to accommodate anticipated population growth and existing housing deficits. Notably, 27 percent of the demand stems from gaps in addressing significant housing issues including homelessness and the low rental vacancy rate.
While Coquitlam is approving ample housing to serve its growing community, the City does not influence the timeframe or materialization of approved developments. Timetables for new housing projects can be swayed by market conditions, construction expenses, and labor availability among other factors.
Nevertheless, Coquitlam has advanced significantly since 2021, leading the region in housing development. Between 2021 and 2024, 7,457 homes were completed, in addition to issuing 12,200 building permits. The City currently has 6,400 units under review.
Recent achievements owe to the City’s enduring commitment to smart land use strategies and housing policies designed to respond to community needs. Ongoing contributions from higher levels of government will be vital to meet both present and future housing demands.
Coquitlam’s actions align with its award-winning Housing Affordability Strategy, established in 2015, which promotes varied and inclusive housing options. Initiatives like the Affordable Housing Reserve Fund and Rental Incentives Program exemplify the City’s proactive stance.
The City acknowledges the restrictions introduced by the provincial legislation, striving to enable Small-Scale Multi-Unit Housing and augment density in Transit-Oriented Areas amid improvements of its Official Community Plan. This complements Coquitlam’s record of creating over 7,400 new homes from 2021 to 2024, including below-market rentals.
Coquitlam’s adherence to the provincial framework highlights its resolve to tackle housing challenges effectively, where local expertise remains a crucial tenet.
Renée De St. Croix, Director of Urban Planning and Design, is available for media inquiries at DevInfo@coquitlam.ca.
The City expresses its gratitude to be located on kʷikʷəƛ̓əm traditional and ancestral lands of the Indigenous peoples.