The province is expanding its Secondary Suites Incentive Program (SSIP) eligibility to the Sunshine Coast Regional District.
The three-year pilot program – introduced last fall and set to launch in the spring – will provide approximately 3,000 homeowners with forgivable loans for up to $40,000 to cover up to half the cost of creating new secondary suites or accessory dwelling units on their properties. The catch is, to qualify, the homeowner must to commit to providing the unit at below-market rates for at least five years.
All incorporated municipalities are already eligible, and now 16 of the province’s 27 regional districts are too. The eligibility expansion is based on those districts having the “necessary building bylaws, and building-permit and inspection services across their electoral areas.”
In a news release in late January, the province said the move is to support long-term rental supply.
Kelly Foley, Sunshine Coast Housing Coordinator said the expansion is great news and represents “some great advocacy work done by our elected representatives.”
“By providing up to 50% of the cost of a renovation for a secondary suite, this grant will make it financially feasible for homeowners to quickly develop much-needed housing for long-term rentals,” she said. “These rentals will be more affordable and more suitable for smaller households, and will better utilize our existing inventory of single-detached houses.
In a statement, SCRD chief administrative officer Dean Mckinley said that the SCRD has already “already fielded a number of enquires” since the program was initially announced and since the expansion last week. He also said the district’s been working on developing policies and bylaws to support affordable housing development. The district planning team is reviewing the implications of incoming provincial housing legislation and intend to bring information forward before the June deadline for local government bylaw compliance.
For more information about the SIIP program, and a comprehensive guide to the process, visit bchousing.org/housing-assistance/secondary-suite.
