Everyone has the right to safe and accessible housing. Most importantly, it shouldn’t cost the majority of your earnings to enjoy it.
When it comes to sustainable housing, Jennifer Keesmaat, former Chief Planner of Toronto, explained it best in an interview with the United Nations Association in Canada. “One of the biggest things we need to do is build affordable—usually rental—housing that is earmarked for average-income earners, and we need to ensure that that housing stays affordable in perpetuity.”
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As reported by the Canada Mortgage and Housing Corporation, Canada needs about 3.5 million additional housing units by 2030 in order to restore affordability. Ontario and British Columbia have the majority of housing supply gaps, with leaders predicting that Quebec and Alberta will also need more supply due to economic growth.
However, there are three initiatives that stand out as accessible options to provide a solution for those seeking a place to call home.
Accelerating Safe Housing with 3D Printing Technology
Thinking outside the box can lead to faster and more affordable home builds.
One of the most noteworthy progress in the construction field comes from nidus3D, a Canadian robotics construction company that created North America’s first residential permitted multi-unit 3D printed homes.
In partnership with Habitat for Humanity Windsor-Essex and the University of Windsor, four 560-square-foot units were constructed using rapid, low-cost 3D concrete printing, providing a swift and efficient way to secure safe homes.
Nidus 3Ds next residential project, “Kakatoosoyiists” which translates to Star Lodges, is Canada’s largest 3D concrete printed home project. Located an hour outside Calgary on Siksika land, this project consists of four buildings, each housing four supportive units for members of the Siksika Nation. Unique design elements, including the roof, incorporate aspects of the Siksika Nation’s heritage and tradition.
- Related: Here’s How Much You’ll Pay in Interest On a 30-Year Mortgage vs. a 25-Year Mortgage Across Canada
Could Modular Homes Be the Future of Affordable Living?
We can now build safe, sturdy housing faster than ever before thanks to modular housing. Also known as prefabricated housing, these structures are built off-site and transported to the site for assembly. They are permanent buildings that adhere to the same codes as traditional construction, requiring a permanent foundation and using concrete, steel, or wood. However, they can be constructed much more quickly than traditional housing options.
One major advantage of modular housing is its ability to reduce construction waste. In a blog post, Coast Essential Construction explains, “Prefabrication involves the assembly of building components off-site to reduce construction time and environmental impact, and minimize on-site construction waste. Prefabrication allows for better control over materials, reduces hands-on construction time, and can significantly decrease the overall waste generated during the building process.”
Similarly, this past March, the Toronto Regional Real Estate Board released a statement urging the Ontario provincial government to go all-in on modular housing. “Currently, rules and regulations around minimum lot sizes and angular plane requirements restrict the building of modular homes in many municipalities, as these rules were designed to suit traditional single-family style homes, not prefabricated modular homes.”
Removing barriers by streamlining building codes, cutting local government regulations, and providing more support for the growing modular sector are proven ways to get people into homes more efficiently.
Converting Old Office Buildings into Residential Homes
With nearly a 30 percent office vacancy rate in its downtown core, Calgary has opted to convert underused office towers into residential housing. Currently, 13 office-to-residential conversion projects are underway, spurred by a 2021 incentive that offers building owners a low cost of $75 per square foot to convert underutilized office space into residential apartments.
Maxim Olshevsky, Managing Director of Astra Group/PeopleFirst Developments, discussed his decision to participate in the city’s incentive program in an interview with the City of Calgary. His team created The Cornerstone, an office-to-residential conversion with 112 suites, and the first project completed through the program.
“I think the impact of these projects is quite significant and multi-faceted,” says Maxim. “When we take an empty office tower and turn it into something more valuable, we improve vibrancy and support small businesses in the neighborhood. The more people we have here, the more businesses will open up. It really creates a lot of benefits that everybody enjoys.”
With downtown Toronto’s 17% office vacancy rate and downtown Ottawa’s office vacancy rate sitting at 13%, the potential for more housing opportunities is well worth a try.
Take the first step toward your dream home in 2024. Reach out today and give us a call to explore the best real estate opportunities for your budget and lifestyle.
