With the housing crisis still flaming across Vancouver Island, builders have been trying to keep up with the demand.
According to the Vancouver Island Real Estate Board, inventory for homes across Vancouver Island has hit consecutive historical lows for several months running.
This past year saw a historical amount of homes approved for development in the City of Nanaimo.
1,469 residential units, including 110 supportive housing units and 165 student housing units were approved for development in the city by the end of October. At the end of November, Nanaimo saw $258 million in total construction value.
“It reflects incredible ongoing confidence in the future of our community, and is building much needed housing at a time when the real estate market is very tight and many people are having great struggles finding affordable accommodation whether to purchase or to rent,” said Mayor Leonard Krog in his Christmas Greeting video.
In spring, the City’s Building Permit Function sought improvements through technology, filling new positions, and focusing on improving permitting. The city also saw the formation of the Joint Building Permit Advisory Working Group.
