Regina city council discussing incentives to address housing dilemma

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Facing a need for more rental properties, council will discuss recommended updates to the city’s housing incentive policy at an executive committee meeting on Wednesday.

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A new assessment of Regina’s housing situation indicates the city should focus on adding more rental properties to maintain affordability over the next decade.

Compiled by Watson & Associates in 2024, the city’s latest assessment warns that Regina needs to “expedite new housing construction” and improve housing diversity in order to meet demands.

Population forecasts say Regina will need to add 56,860 new housing units by 2051 to match the city’s projected 136,200-person growth over the same period.

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This target means that Regina will need to see construction of 1,893 units per year over the next 25 years — nearly double the average rate of 1,020 units per year since 2001.

Based on past trajectory, Watson & Associates predict that half those units should be rentals to meet the anticipated demand over the next 10 years.

Renters as a demographic have grown steadily in Regina since 2006, making up 28 per cent of households as of 2023. However, just 34 per cent of current housing units are catalogued as mid- to high-density properties that are most popular among renters, according to the analysis report.

Regina also has a low vacancy rate of 1.4 per cent, which is cited as a likely factor in the 15-per-cent rise of rental rates since 2018.

City administration is looking to bolster the rental market as a next step in its deal with the federal Housing Accelerator Fund (HAF). Signed in early 2024, the $35-million agreement is meant to leverage federal dollars to fast-track an additional 1,000 housing permits in Regina by the end of 2026.

Council will discuss recommended updates to the city’s housing incentive policy at an executive committee meeting on Wednesday.

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It’ll be up for approved at a future date.

Administration has suggested several changes focused on adding higher-density units, including an increase to available grants from $1.5 million to $7 million through federal funding.

Here’s what to know about the next round of action proposed for Regina under its HAF agreement:

Changes to rental repair incentives

One of several changes on the table is the suspension of the rental repair tax exemption introduced in 2020, to be replaced with a rental acquisition and repair grant pilot.

If approved, the program would offer to cover 50 per cent of eligible repair costs up to $500,000 to turn buildings not on the market into habitable rental suites, or to upgrade existing rentals to extend their life.

Funds would be offered as capital grants once the repairs are finished. Each affordable unit created as a result of the incentive would be eligible for a five-year, 100-per-cent tax exemption.

The report indicates repair grants would only be available to non-profit housing providers and for buildings that are at least 20 years old.

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The recommended changes also include a tenant protection framework to ensure tenants aren’t unlawfully evicted due to renovations or hit with significant rent jumps as a result of upgrades.

Rental grants, exemptions for secondary suites

The city has also suggested changes to support additional suites, allowing such properties to apply for rental grants and exemptions like any other housing type under the incentive policy.

Administration is looking to allow properties with secondary or backyard suites to pursue broader rental exemptions, though single-family homes with secondary suites would only be eligible if they’re owned by non-profit operators in the North Central, city centre or Heritage neighbourhoods.

Secondary suites are self-contained living spaces in dwellings that have their own separate entrances — such as in-law or basement suites. Backyard suites are self-contained, but they’re also separate from a property’s main dwelling.

These proposed changes aim to increase the number of suites in the city.

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Converting downtown offices into residential space

Administration proposes using $4 million from the HAF program to create a new two-year pilot to convert vacant downtown office spaces into livable apartments, beginning in 2025 and 2026.

According to the report, the pilot would accept two conversion projects per year with a cap on grant money set at $2 million apiece. The city says it could result in the addition of up to 60 downtown housing units.

If approved, the pilot would align with goals for “intensification and downtown revitalization” in the city’s centre by boosting population density in the area and utilizing buildings that already exist.

The pilot is modelled after a program launched by the City of Calgary in 2021 and focused on addressing high rates of office vacancies amid a burgeoning housing shortage.

Calgary has seen 11 projects add 1,500 units through the incentive and is also using the HAF to support its most recent efforts.

A final decision on whether to move ahead with the proposed updates to the city’s housing incentive policy will be made at a future council meeting.

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