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            <resTitle>Purpose Built Rentals Housing Registrations</resTitle>
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                <createDate>2022-06-21T01:07:09</createDate>
                <reviseDate>2025-06-06T21:15:39</reviseDate>
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        <idPurp>New homes registered to be built for rental purposes for a 10-year period before the sale of any dwelling unit</idPurp>
        <idAbs>&lt;div&gt;&lt;a href='https://indicators.squamish.ca/pages/liveable#indicator5' target='_blank' rel='nofollow ugc noopener noreferrer'&gt;Purpose-Built Rental Housing Registrations | Squamish Community Dashboard&lt;/a&gt;&lt;br /&gt;&lt;/div&gt;&lt;div&gt;&lt;br /&gt;&lt;/div&gt;&lt;div&gt;This indicator tracks registration of new homes in the public registry administered by BC Housing under the Homeowner Protection Act. Under this Act, all new homes in the province must be registered, prior to issuance of building permits. Home registration data is collected from licensed residential builders and is a leading indicator of future housing construction activity. Home registrations are tracked by building type, size and location, including multi-unit and single-detached homes enrolled with home warranty insurance, Owner-Builder authorizations, and purpose-built rental buildings exempt from home warranty insurance. Purpose-built rental homes must be constructed for rental purposes, including social housing, and have a restrictive covenant restricting the sale of any dwelling unit for a 10-year period.&lt;/div&gt;&lt;div&gt;&lt;span style='color:rgb(0, 0, 0); font-family:&amp;quot;Myriad Pro&amp;quot;, &amp;quot;Avenir Next&amp;quot;; font-size:16px;'&gt;&lt;br /&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;div style='box-sizing:border-box; margin:15px -15px; display:flex; color:rgb(0, 0, 0); font-family:&amp;quot;Myriad Pro&amp;quot;, &amp;quot;Avenir Next&amp;quot;; font-size:16px;'&gt;&lt;div style='box-sizing:border-box; min-height:1px; padding-right:15px; padding-left:15px; width:1170px;'&gt;&lt;div style='box-sizing:border-box;'&gt;&lt;div style='box-sizing:border-box; background-color:rgb(239, 240, 238); margin:-25px; padding:25px;'&gt;&lt;h4 style='box-sizing:border-box; font-family:var(--fontsHeadingFamily),Avenir Next; font-weight:400; color:rgb(17, 94, 103); margin-top:12px; margin-bottom:12px; font-size:var(--font-size-h4);'&gt;&lt;span style='box-sizing:border-box; font-weight:600;'&gt;About this target:&lt;/span&gt;&lt;/h4&gt;&lt;p style='box-sizing:border-box; margin-top:0px; margin-bottom:12px;'&gt;A progressive increase is achieved in purpose-built rental housing starts per year, in conjunction with the District's Affordable Housing Strategy and Action Plan (2019) and is based on rental unit demand projections and housing needs reports. In 2023 Squamish Council set an objective to increase the diversity of housing forms and tenure types year over year to promote affordable and attainable housing for people living in Squamish.&lt;/p&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style='box-sizing:border-box; margin:15px -15px; display:flex; color:rgb(0, 0, 0); font-family:&amp;quot;Myriad Pro&amp;quot;, &amp;quot;Avenir Next&amp;quot;; font-size:16px;'&gt;&lt;div style='box-sizing:border-box; min-height:1px; padding-right:15px; padding-left:15px; width:1170px;'&gt;&lt;div style='box-sizing:border-box;'&gt;&lt;div style='box-sizing:border-box; height:15px;'&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style='box-sizing:border-box; margin:15px -15px; display:flex; color:rgb(0, 0, 0); font-family:&amp;quot;Myriad Pro&amp;quot;, &amp;quot;Avenir Next&amp;quot;; font-size:16px;'&gt;&lt;div style='box-sizing:border-box; min-height:1px; padding-right:15px; padding-left:15px; width:1170px;'&gt;&lt;div style='box-sizing:border-box;'&gt;&lt;div style='box-sizing:border-box;'&gt;&lt;h4 style='box-sizing:border-box; font-family:var(--fontsHeadingFamily),Avenir Next; font-weight:400; color:rgb(17, 94, 103); margin-top:12px; margin-bottom:12px; font-size:var(--font-size-h4);'&gt;&lt;span style='box-sizing:border-box; font-weight:600;'&gt;Analysis:&lt;/span&gt;&lt;/h4&gt;&lt;p style='box-sizing:border-box; margin-top:0px; margin-bottom:12px;'&gt;In 2023, 87 new purpose-built rental units were registered in the District of Squamish. The major project included the Spirit Creek Affordable Housing Apartments (76 units) which received $7.6m grant funding from the &amp;quot;Building BC Community Housing Fund&amp;quot; and was completed in 2023. This was a significant increase over registrations in 2022, but still below a high of 195 new units in 2021. &lt;i&gt;*As of May 31, 2025, data for the 2024 year had not yet been published in the New Homes Registry by the Province of BC.&lt;/i&gt;&lt;/p&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style='box-sizing:border-box; margin:15px -15px; display:flex; color:rgb(0, 0, 0); font-family:&amp;quot;Myriad Pro&amp;quot;, &amp;quot;Avenir Next&amp;quot;; font-size:16px;'&gt;&lt;div style='box-sizing:border-box; min-height:1px; padding-right:15px; padding-left:15px; width:1170px;'&gt;&lt;div style='box-sizing:border-box;'&gt;&lt;div style='box-sizing:border-box;'&gt;&lt;h4 style='box-sizing:border-box; font-family:var(--fontsHeadingFamily),Avenir Next; font-weight:400; color:rgb(17, 94, 103); margin-top:12px; margin-bottom:12px; font-size:var(--font-size-h4);'&gt;&lt;span style='box-sizing:border-box; font-weight:600;'&gt;Reason for monitoring:&lt;/span&gt;&lt;/h4&gt;&lt;p style='box-sizing:border-box; margin-top:0px; margin-bottom:12px;'&gt;Increasing the supply of purpose-built rental units, and securing their affordability in perpetuity, is critical to meet local rental housing demand. Along with accelerating the supply of purpose-built rentals in Squamish, the District is also working towards preserving and renewing existing rental stock through a range of policies and actions.&lt;/p&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</idAbs>
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