BCBusiness

November 2018 – What's Up, Chip?

With a mission to inform, empower, celebrate and advocate for British Columbia's current and aspiring business leaders, BCBusiness go behind the headlines and bring readers face to face with the key issues and people driving business in B.C.

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nOVEmBER 2018 BCBusiness 13 "Y ou could pretty much go to any cocktail party, any conversation, any Tim Hortons or coee shop, and you're going to have the same discourse happening around housing," says Jake Fry, best known for his Vancouver •rm Smallworks, which builds laneway homes. "And the challenges are uniform," Fry continues. "The dollar value may change, and drivers may be dierent between Penticton and Vernon and Terrace and Kerrisdale, but the challenge is there." Fry has found that people are increasingly looking for housing that meets but doesn't surpass their needs and accom- modates their budgets. In response, in 2012 he and Bob Ransford, now VP development at real estate •rm Century Group in Vancouver, founded Small Housing BC ( SHBC), a not- for-pro•t society to study and advocate for homes between 100 and 1,500 square feet. Recently SHBC began sharing its research. This year Fry and SHBC project managers Anastasia Koutalianos and Samantha Gambling visited or video-conferenced with some 20 municipalities across the province, outlining the advan- tages of constructing fewer apartment buildings and more small in•lls or larger structures that might look like a house but contain multiple residences. Not only can this approach add households to neighbour- hoods without changing their character, but in•ll homes might also be quicker for plan- ners to approve while suiting residents' requirements better than more traditional develop- ments, Fry explains. "Most neighbourhoods middle ground Most new homes built in B.C. are small condos or large detached houses. But one solution to the aordability crisis may lie somewhere in between by Felicity Stone HO U S I NG ( the informer ) O N T H E R ADA R sIze mATTeRs 800 Average square footage of a Canadian home in 1945 4 Number of people typically living in a Canadian home in 1945 2,000+ Average square footage of a B.C. home today 2.5 Number of people typically living in a B.C. home today sOURCE: smaLL hOUsing BC PRICe POInTs Based on income alone, spending 40 percent of it on housing and ignoring the federal mortgage stress test, how many households in metro Vancouver can afford to buy a home worth more than: $1.1 million 24.2% $1.5 million 16.7% $1.7 million 8% sOURCE: miChaEL mORtEnsEn, smaLL hOUsing BC, Using 2015 VanCOUVER Cma CEnsUs hOUsEhOLd inCOmE LEss is MorE Home builder Jake Fry sees room for smaller houses in b.C. COURtEsY Of smaLL hOUsing BC

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