Budget 2023: Province looking to ‘incentivize’ secondary suites

B.C. looking to ‘incentivize’ secondary suites The budget is funding a pilot meant to make it easier and quicker for homeowners to create secondary suites.

Those looking for a place to live may soon have a lot more selection with Budget 2023 promising a new pilot project to get more secondary suites in the province.

The NDP government is looking to make secondary suites legal across the province, a promise made by David Eby during his bid to become leader. At an unrelated press conference, Eby spoke about possible legislation coming.

"We’re also looking at specific rules that prevent housing from coming available. One of those rules is if you can believe it, there is still places where it is illegal to open a secondary suite," said Eby hinting at a change.

Budget 2023 also outlines a new pilot project to help homeowners create secondary suites. Few details are available, but budget documents point to $91 million over three years to provide "financing incentives." The document said thousands of more housing opportunities are expected.

Housing Minister Ravi Kahlon, said secondary suites would include garden suites.

"We’ve heard from a lot of homeowners to say that they would love to get a rental suite available but sometimes need support to be able to get one online and so we’re looking for all means to get more housing," Kahlon added.

For Kevin Falcon, the idea raises concerns. The liberal leader says there may be unintended consequences to having tax dollars from renters fund the program and eventually increase home prices.

"You’re actually gonna help those homeowners become wealthier," Falcon told reporters at the legislature Thursday.

Along with a four billion dollar investment over three years — the province is promising a new housing strategy. The Liberals say the previous one didn't live up to the hype.

To build more houses, more construction workers are needed — and with a lack of supply already — it's unclear where any newcomers will live.

Falcon expressing frustration, said, "We have the highest house prices in North America, the highest rents in Canada after six years of an NDP government."

The premier didn't address concerns about long-term impacts, but said the goal was to address the ongoing crisis and take steps that would have an immediate impact.

"We can’t leave any housing empty right now," Eby added.

Building new homes can take years — meaning the secondary suites may be a band-aid for a crisis that requires a lot more places for people to live.