The Times Colonist reports construction is the second largest employer on Vancouver Island. This is due to ongoing population growth expected to surpass 500,000 in the central island alone in the next 10 years. Victoria’s office vacancy rate is declining and vacant industrial space is at a 10 year low. Our economy is based on […]
The Town of View Royal has decided to up the ante using new housing as a cash machine for their revenue. Their Committee of the Whole recommended adopting a community amenity contribution policy that says: “1.9 Target Rates The following target rates for cash amenities are established as basis for negotiation: •$5500 per single detached […]
Recently there has been significant seismic activity along BC’s west coast. Three earthquakes registering between 4.5 and 5.6 magnitude were detected, in addition to a 6.2 earthquake the day before. A series of large earthquakes in Southern California also resulted in some injuries, damaged buildings and caused fires. On February 22, 2011, a 6.3 earthquake caused severe damage at Christchurch, New Zealand […]
The appropriation of private property is becoming a favourite tool of local politicians demonstrating to the public their concern about housing affordability, the environment and a variety of other hot issues that they have mostly mismanaged. For example, Victoria council voted to require 20% of new condo units to be affordable rental. Of course the […]
Through DCC’s, new homebuyers shouldered the cost for purchasing 31.4 acres of Blenkinsop park land. Of course, there was never any mention of the source of the funds. Saanich treats new homebuyers as cash machines evidenced by a recent 180% increase to DCC’s, disguising taxes as service fees, adding unnecessary costs and regulations like Step […]
Victoria council is planning to adopt a policy where 20% of units in new, large residential strata buildings must meet the city’s affordability criteria. The Times Colonist reports the city’s own consultants and other industry experts warn against this because it will discourage development. Victoria’s population growth has exceeded new housing starts since 2011 and […]
CMHC reports May’s single detached housing starts in Greater Victoria declined 39% compared with the same month last year. Starts dropped from 93 to 57, an indication that affordability continues to be a challenge, particularly since the introduction last year of the mortgage stress test, speculation tax and other government regulations inhibiting supply. The stress […]
On June 27, Victoria Council will review a proposed “inclusionary” housing policy which actually excludes more new homebuyers unable to add the costs of council’s demands onto their mortgages. In our letter to council, we oppose their policy and say: “Since 2016, the city has collected millions of dollars from new development. The report also […]
Casey Edge, VRBA’s Executive Director was interviewed in Canadian Contractor magazine and had this to say about residential construction, BC Energy Step Code, housing affordability and other topics.
Thinking of joining an industry association? Now is the time, during our annual membership renewal at the Victoria Residential Builders Association. Based on our principles of effective, efficient & affordable, we have re-invented the traditional association. VRBA provides: Renovation and new home projects sent directly to our builders; Free education seminars offering CPD credits required […]
Wed, Nov 20 – Builders Council at noon at VRBA office. Please RSVP at admin@vrba.ca.
Thurs, Dec 5 – Christmas Reception – 4:30 – 7 pm at VRBA office. No RSVP required.
Wed, Dec 11 – Builders Council at noon at VRBA office. Please RSVP at admin@vrba.ca.
Wed, Jan 15 – Crystal Ball Economic Forecast Luncheon – 11:30 am – 2 pm, Gorge Vale Golf Club. Please RSVP at admin@vrba.ca.
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