‘Attainable Housing’ a Priority for Vernon Chamber

March 7, 2016

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VERNON – What is a realistic price to pay for a home? It is a simple question that can prompt a very complicated answer depending on where you live in the province. Compared to the price of a single family detached home in Metro Vancouver, a similar home in the Okanagan may seem like a heck of a deal but the reality in the Okanagan, and across the country for that matter, is that an increasing number of young families are hard pressed to afford the price of an average home.

This situation was at the heart of a presentation the Greater Vernon Chamber of Commerce made recently to Mayor and Council in Vernon. The group which is made up of developers and others in the residential construction sector, called on the City of Vernon to accelerate efforts to make housing more attainable for young families. In presenting to Vernon City Council, the Chamber’s Business Improvement Group for Real Estate and Development noted that the current cost of housing is still above what the average family can afford.

“Local Government has direct control over a number of things that are contributing to the rising cost of housing,” says Pam Owen, a local mortgage broker and director with the Greater Vernon Chamber of Commerce. “We are hearing from many in the residential construction sector that land use regulations along with development fees and other charges are contributing to the high cost of land and putting home ownership out of the reach for average families.”

In order to address this issue, it was suggested that the city host an attainable housing and economic development forum that would bring industry, city administration, and economic development officials together to see what red tape can be reduced and where government processes could be improved.

Concern over the rising cost of residential construction isn’t unique to the North Okanagan.

It is the same situation in most growing communities across the country where housing costs are impacted by land use decisions (control of inventory), increasing local government regulations, and what at times can be overly bureaucratic government processes. That increased cost for development is of course passed on to the customer and unfortunately it’s putting the dream of owning a single family home out of the reach for average Canadians and limiting the economic potential of residential construction sector.

It is important to note that there are few sectors in the country that generate as much economic activity as residential construction. As an example in 2015, new home construction generated almost $50 million in wages and close to 800 on and off-site jobs in the Vernon area alone.

“If we can move the needle on affordability even a little, we will create a community that is more family friendly while also strengthening the local economy,” stated Owen.

Vernon Council will consider the matter in the coming weeks and in the meantime developers are keeping busy as there has been a jump in housing starts though the bulk of that activity has been for higher valued homes that are perfect for those looking to retire in the Okanagan or who for those with a relatively high household income.

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In other news, the finalists are now set for the 2016 Business Excellence Awards presented this year by. Bannister Honda, Nicholas Alexander Landscaping & Design, Okanagan Spirits, Olive Us Oil & Vinegar Tasting Room and Deb White of White House Mortgages lead the way as all were named finalists in multiple categories. The finalists were announced during the Chamber`s Nominees Luncheon in early February. A full list of all the finalists in each of the categories can be found on the Chamber’s website (vernonchamber.ca).

The winners will be announced at the Chamber’s Business Excellence Awards Gala on Friday March 11th at the Vernon Atrium and Conference Centre. The event this year is presented by ValleyFirst Credit Union.

There are a number of new awards this year including the People’s Choice, Business Person of the Year, Newsmaker of the Year, Not-for-Profit Organization of the Year and Tourism Excellence. The People’s Choice Award is the only award chosen by public voting as all other award categories are evaluated by a panel of judges. Tickets for the Gala are on sale through the Chamber office.

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Finally we want to welcome the newest members of the Greater Vernon Chamber: Excel Sport & Health, Kal Sports Bar, Monashee’s Beer Wine Spirits, Valley First Insurance, Basket Case Picnics & Catering, Leap Art Supplies & Gallery, Anrias Capital Corp., Station BBQ Smokehouse, Integral Accounting Inc., Critter Catchers and Silverlining Stone & Tile Ltd.

– Dan Rogers is the General Manager at the Greater Vernon Chamber of Commerce and can be reached at manager@vernonchamber.ca.

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