Location, location, location is a popular real estate mantra but will become increasingly important if Coquitlam approves changes to its affordable housing strategy, especially with regards to unit size and parking requirements.
With land scarce and housing prices going though the roof, it makes sense to allow more variety in the kind of units offered to respond to market needs.
But along with ensuring that transit is frequent and accessible, these units in denser developments need to be close to parks and other amenities to reduce the need for a car and make apartment life more livable.
Public space will be increasingly important as the Tri-Cities moves toward a more urban lifestyle. What we would like to see alongside this important affordable housing strategy is a clear vision of what the city will look like in 10 years, when many of these buildings will be finished and full. Will it be a garden city or an urban jungle?
The city is now looking at micro suites, as small as 312 sq. ft. in condos, to keep prices affordable, as well as lock-off suites in townhouses that would allow people to rent out a suite to help cover the mortgage. As well, it is aiming to increase the stock of three-bedroom apartments to accommodate families (and while family life in a suite might take some getting used to, is probably a necessity in the future).
Another strategy to keep units affordable would be to reduce parking requirements for buildings so that expensive land isn’t tied up in a concrete pad for a car. This is also part of Coquitlam’s update of its affordable housing strategy, and it's sensible, as long as these units are close to transit and even car sharing vehicles.
There is no sense reducing parking only to have neighbourhood streets clogged with cars.
So accompanying these amendments should be expectations of amenities as well as requirements that realtors and landlords give a realistic picture of auto use, schools, buses and community centres when selling these suites.
At the same time, buyers need to be aware of what they are getting into if they purchase these units.
There will be no gilding the lily for these concrete boxes if they do turn out to be ugly weeds.
