Blue Mountains Attainable Housing Corporation – four big achievements
By Jennifer Bisley, Executive Director
Note: This is an excerpt from the Executive Director’s Report at the 2022 Annual Meeting held on November 10, 2022. The full Annual Update can be found here.
As Canada’s second-fastest growing municipality, The Blue Mountains does not appear to have a problem building housing. However, given the critical shortage of long-term rental and entry-level ownership housing in the community, there is a problem of building the right kind of housing.
In the lead-up to the 2018 municipal election, the Corporation shifted its attention to purpose-built rental housing. Under new leadership, a conceptual business model was created drawing on practices in communities with similar challenges, such as Whistler, Banff, and Canmore, to serve as the foundation for a new strategy, activities, and organizational structure. Financial sustainability is at the core of the model.
Each project must generate adequate revenues to cover all costs without ongoing operating subsidies. It requires investments, including:
- development charge exemptions, and
- other contributions from partners and all levels of government
to achieve adequate levels of affordability and financial viability. The model locks in affordability through rental and resale terms and conditions so that the investment stays in the community for the benefit of future residents.
Read more about the four big achievements here.
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