Ways to make rental and market housing more affordable

By Laura Gillanders, Councillor

Over the past decade, housing in Richmond has become significantly less affordable. 

While various government programs have supported homebuyers, comparable incentives for the rental market have been limited. This is where municipal governments have an opportunity to step in, and the need is significant. 

Over the years, we’ve seen a proliferation of condominiums built, most with an increasingly smaller footprint, and often referred to as “shoebox condos.” Many of these studio and small one-bedroom units are purchased by investors and are not designed for families. 

The real estate market has also shifted. A spring 2025 report by Rennie and Associates shows the federal government’s ban on foreign ownership of Canadian housing has contributed to an increase in unsold condominiums. 

In the last municipal election, I, along with my colleagues on Council, campaigned on ways to make housing more affordable in Richmond. We unanimously approved Council’s 2022 to 2026 Strategic Plan, with clear focus areas and priorities to tackle this important issue.

One of these focus areas is to develop and implement innovative and proactive solutions that encourage a range of housing options and prioritize affordability. 

Since joining Council, I’ve advanced several initiatives to help achieve this goal, including referrals to establish both a housing office and a housing authority.

The Housing Office

The City’s housing office is now operational, and we’ve already received positive feedback from residents who have found it easier to access information and apply for affordable housing opportunities.

A Housing Authority

Developers in Richmond have expressed a strong desire to build the type of homes our residents need, but escalating land prices remain a significant barrier. A housing authority could be part of the solution. 

Other municipalities, including Burnaby and Surrey, have successfully created housing authorities that partner with developers to deliver affordable homes for local residents. 

A Richmond housing authority could:

• Leverage City-owned land for affordable and rental housing;
• Control timelines, design and tenure mix;
• Create long-term sustainable funding by reinvesting rental and lease revenues into new housing; and
• Allow the City to maintain control while minimizing liability and financial risk. 

A housing authority would help us build homes for the people who work here, raise families here, and wish to age in place here. 

When can we expect of a housing authority in Richmond?  We’re still working out all the details, and there are many. We’ll keep you informed as we progress.  

If you have questions or concerns, I would love to hear from you at LGillanders@richmond.ca.

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