Province releases five-year housing strategy

The provincial government has released a five-year housing strategy to guide efforts in growing the housing supply; providing more options for low-and medium-income residents; and supporting those most in need. The Province says it was developed through consultation with non-profit and community groups, tenants, landlords, industry associations, developers and all levels of government. It outlines 20 priority action items under three main pillars – acceleration, affordability and vulnerability. Some of the goals of the strategy include growing housing starts to a new level towards the required average annual 2,000 units; achieve and maintain a healthy market vacancy rate of 2 to 4 per cent; explore ways to increase the supply of permanently affordable rental housing through a combination of acquisitions and new constructions; and prioritize the most in need on the PEI Social Housing Registry, while working to eliminate the registry.