Cape Breton Regional Municipality reports the construction or approval of slightly over 900 new residential units in the past two years. However, an expert notes that this doesn’t signify the end of the housing crisis. Out of the new units, more than 100 are classified as affordable.
Catherine Leviten-Reid, a housing specialist and professor at Cape Breton University, expresses gratitude for the affordable units but emphasizes that all new constructions should have catered to low-income renters, given the significant number of vulnerable individuals in the community. With approximately 1,200 households on the public housing waitlist and existing shelters at full capacity, she believes all units should have been affordable to address the ongoing crisis effectively.
Despite the progress in construction, including the building of a fourplex in Glace Bay last year, concerns remain due to the unmet demand for affordable housing. A 2023 provincial assessment highlighted the need for at least 1,000 new housing units in CBRM, a figure that some researchers believe has been significantly underestimated.
Tyson Simms, the planning director of CBRM, informed the council about the positive impact of reduced bureaucracy under the CBRM Forward planning document and the federal Housing Accelerator Fund. These initiatives have led to a surge in new housing units over the past four years, with $11.4 million in federal funding allocated to provide incentives for developers and streamline the permitting process.
Leviten-Reid stresses the necessity for all levels of government to revise housing regulations and targets to incorporate more affordable options. She argues that the current approach of increasing supply is insufficient in addressing the housing needs of vulnerable community members effectively.
Tim Fraser, the secretary of the Investment Property Owners Association of Cape Breton, highlights the impact of a decrease in international students on the local housing market. He notes a shift in the rental landscape, with fewer international renters seeking accommodations, leading to a considerable decline in demand.
Simms also mentions the rise in non-residential construction, with a significant portion of new residential units constructed in areas with existing infrastructure. This development not only boosts tax revenues but also minimizes additional costs. Non-residential construction permits have seen a notable increase, alongside a nearly tripled estimated value of non-residential construction projects.
In summary, while progress has been made in addressing the housing shortage in CBRM, challenges persist in ensuring affordable housing options for all residents. The ongoing efforts to increase housing supply and adapt regulations to meet the community’s needs are crucial steps in tackling the housing crisis effectively.
