Addressing Housing Affordability in the Comox Valley
Housing affordability is one of the most significant challenges facing the Comox Valley. Significant increases in home prices and rental rates have left many families and individuals struggling to afford a roof over their heads, impacting the regional economy, social wellbeing and livability.
The Comox Valley Regional District (CVRD) is creating a new purpose-driven housing corporation to facilitate the
creation of non-market rental housing for low- and moderate-income households. This work will be undertaken in
partnership with non-profit housing organizations and senior government housing agencies that serve as the primary operators and funders of affordable housing.
The creation of a housing corporation by the CVRD follows assessments of regional housing needs and
local government direct actions
Bold Action Through Community Partnership
Recognizing the scale and complexity of the housing sector, the CVRD has developed a multifaceted approach to
coordinate efforts to increase housing supply, create additional non-market rental housing and increase support to existing community-based housing providers and services. This approach is being delivered in phases and through projects through a number of CVRD services that provide land use planning and regulation, non-market housing creation and homelessness supports.
A keystone of the CVRD's approach is the creation of a housing corporation to realize the creation of non-market rental housing. Local government housing corporations are active and established in several communities across the province and have served as effective vehicles to deliver affordable housing. Such entities include the Capital Regional Housing Corporation, Whistler Housing Authority and the Tofino Housing Corporation.
Latest Updates
At the February 25, 2025 regular meeting, the CVRD Board established the Comox Valley Housing Service for the purpose of providing non-market housing, including the provision of assistance to an entity established by the Regional District for this purpose. The legislative process undertaken by the Board included an Alternative Approval Process (AAP) in which electors were engaged to obtain approval.
The CVRD is now actively working to establish the entity. This process includes the development of the articles of incorporation and other foundational documents and then obtaining final approvals of the CVRD Board and the Province of BC. In support of the creation and launch of the entity, the CVRD is also advocating to senior governments and engaging with local government partners, non-profit housing organizations and the private development sector. This will assist in refining the entities mandate, governance, services and objectives.
The key phases and timing of this work are summarized in the graphic below:
What is non-market rental housing?
Non-market rental housing is housing is for low- and moderate-income households as it costs less than what the market would typically charge for housing. This type of housing is generally managed by non-profit organizations, government agencies, or co-operatives which enable rents to be not solely market driven. Non-market rental housing can include a variety of rent levels (e.g., deeply subsidized, rent geared to income, below- or near-market, and market rental rates) and can support a diverse population.
