Options for Homes in Metro Vancouver: the creation of cost-effective home ownership opportunities

Housing affordability is a frequently discussed issue in many Canadian cities; none more than Vancouver and the surrounding region. Data on housing stress in Metro Vancouver indicates the problem is real, and that home ownership is out of reach for most low and moderate income earners in the region. A preliminary feasibility analysis indicates that a model created by Options for Homes, a non‐profit housing provider founded in Toronto, would produce units for significantly less than comparable private developments. While expanding Options for Homes would not be a panacea for affordability in the region, and there are a number of associated challenges with applying the model in Metro Vancouver, there is merit to the further exploration of a model that provides below-market home ownership opportunities to households currently priced out of the housing market.