As mentioned in previous updates, on January 21st, Council adopted the proposed density bonus options for Multi-Unit Residential 2 (RM-2) and Multi-Unit Residential 3 (RM-3) zones. The density bonus program aims to deliver privately held affordable rental housing or units that could be sold to non-profit housing providers for 20% below market rates.  

More information can be found in the full report by District staff and the Financial Model. 

January 21, 2025 

On December 17th, Council gave three readings to the proposed density bonus options for Multi-Unit Residential 2 (RM-2) and Multi-Unit Residential 3 (RM-3) zones. The density bonus program aims to deliver privately held affordable rental housing or units that could be sold to non-profit housing providers for 20% below market rates. 

The financial analysis prepared by the consultant indicated that providing affordable rental  housing would be financially viable with a density bonus of 0.3 Floor Area Ratio (FAR) total, with  50% of this additional area being allocated to additional market rental or for-sale market housing and the remaining 50% being allocated to affordable rental housing or affordable  rental housing that is sold to a non-profit housing provider, at 20% below market rate. 

The RM-2 density bonus includes an increase in the maximum FAR from 0.8 to 0.95, the minimum rear setback is reduced to 4.57 metres, and the maximum height may be increased by  

1 metre provided one of the following conditions are met: 

• All residential units permitted up to the maximum bonus density of 0.95 FAR are secured as market rental housing and a minimum of 0.15 additional FAR is provided and secured as affordable rental in perpetuity through a Housing Agreement. Units provided as affordable rental housing must meet the minimum unit size stipulated in the BC Housing Design Guidelines for the respective unit type; or 
• A minimum of 0.15 additional FAR is provided and secured as affordable rental housing in perpetuity, through a Housing Agreement and sold to a not-for-profit housing provider at 20% below market rate. Units provided as affordable rental housing must meet the minimum unit size stipulated in the BC Housing Design Guidelines for the respective unit type. 

The RM-3 density bonus is structured the same as the RM-2 bonus and includes an increase in  

the maximum FAR from 1.0 to 1.15 and an increase in the maximum height from 15 metres to 18 metres or five storeys, whichever is less, provided one of the following conditions are met: 

• All residential units permitted up to the maximum bonus density of 1.15 FAR are secured as market rental housing and a minimum of 0.15 additional FAR is provided and secured as affordable rental in perpetuity through a Housing Agreement. Units provided as affordable rental housing must meet the minimum unit size stipulated in the BC Housing Design Guidelines for the respective unit type; or 
• A minimum of 0.15 additional FAR is provided and secured as affordable rental housing in perpetuity, through a Housing Agreement and sold to a not-for-profit housing provider at 20% below market rate. Units provided as affordable rental housing must meet the minimum unit size stipulated in the BC Housing Design Guidelines for the respective unit type. 

Setback relaxations are not included in the RM-3 zone as the height bonus allows for a five-storey building. 

Following UDI’s engagement session with the District on November 5th, the options were amended to include provisions in both bonuses that note they are not applicable on properties located in a conditional densification area, as hazard policies in the OCP do not support increasing density in these areas unless specific conditions are met. 

More information can be found in the full report by District staff and the Financial Model.