On August 1, 2024, Port Coquitlam was issued a Housing Target Order under the Housing Supply Act, which sets out a five-year housing target to be met by July 31, 2029. The housing targets are part of a suite of Provincial legislative changes aimed at increasing housing supply and expanding the number of completed dwelling units.
The City’s existing vision, policies and directives do already support the Provincial directive to advance the supply of housing, and more recently, substantial amendments have been made to Port Coquitlam’s Official Community Plan and Zoning Bylaw to align with Bill 44 (small-scale, multi-unit housing) and Bill 47 (transit-oriented areas).
Port Coquitlam Housing Targets
The Province estimates housing needs using a standardized methodology that counts how many completed net new units (occupancy minus demolished units) are required to address the shortage of housing today, and to respond to population growth over the next five years. Housing targets are set at 75% of the total number of net new housing units required for the duration of a housing target order, measured annually and cumulatively with a gradual increase in housing production each year. The Province notes that using 75% (instead of 100%) is intended to allow for flexibility to respond to individual municipal circumstances.
The Province has estimated that Port Coquitlam’s housing need is 3,039 net new units over the next five years (2024-2029) and has therefore set a housing target of 2,279 units (75% of the total).
In addition to the housing targets, the Province has provided guidance for housing by size (# of bedrooms), tenure (rental vs. owned), and affordability (market vs. below-market).
Progress Reporting
Reporting periods will be annual from the effective date of the Housing Target Order, with a one-time six-month interim progress report due in the first year. All reports must be received by resolution at a Council meeting and submitted to the Province within 45 days of the end of the reporting period.