Interim Housing Needs Report says thousands more units needed in Prince George

Prince George City Council received an updated Interim Housing Needs Report at last night’s (Monday) meeting.

The City of Prince George originally completed the Housing Needs Report in 2021, and it was updated the next year.

“There is a difference between the Housing Needs report, the Housing Needs Interim Report, and the Housing Target Order which we were provided earlier this year,” said Director of Planning and Development Deanna Wasnik.

“Through Bill 44, municipalities are now required to update their housing needs report to include what they’re calling the HNR method.”

Based on the 2021 report and the HNR method, the City needs a total of 5,218 units of different types of housing by 2026 (starting from 2021) and 12,503 units by 2041.

“Those are completions, I believe, due by 2026, that number is a little bit alarming because it’s not accounting for net numbers we have already been achieving completions year-over-year,” said Manager of Economic Development Deklan Corstanje.

“It is a very aspirational number, both by 2026 and 2041.”

The HNR method breaks down the housing need into six categories:

• Supply of units to reduce Extreme Core Housing Need (those paying more than 50 per cent of income for housing) (306 units by 2026, 1,224 by 2041)
• Supply of units to reduce homelessness (498 by 2026, 995 by 2041)
• Supply of units to address suppressed household formation (175 by 2026, 699 by 2041)
• Supply of units for anticipated household growth (3,652 by 2026, 7,234 by 2041)
• Supply of units needed to meet at least a three per cent vacancy rate (21 by 2026, 85 by 2041)
• Housing units reflecting additional local housing demand or “demand buffer” (566 by 2026, 2,265 by 2041)

The next full Housing Needs Report is planned for completion by 2028.