Southern Gulf Islands Housing Feasibility Analysis

· Islands Trust Area · Reports & Publications · 2023

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Topics: Marine & foreshore · Aquaculture & shellfish · Fresh water & aquifers · Housing & affordability · Forestry & trees · Bylaw enforcement · Agriculture & the ALR · First Nations & reconciliation · Transportation & ferries · Governance & budget — our classification, not the Trust's.

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Prepared for: 
Capital Regional District 
Justine Starke, MCIP, RPP 
Manager, Southern Gulf Islands Service Delivery 
By: 
Wiser Projects / New Commons Development 
Final Report 
May 19, 2022 
March 1st, 2022
Phase 1 Summary of challenges and opportunities 
in the housing environment of the SGIs
March 1st, 2022
Southern Gulf Islands 
Housing Feasibility Analysis 
hern Gulf Islands
Housing Feasibility Analysis

Southern Gulf Islands Housing Feasibility Analysis: Phase 3 | Wiser Projects 
Table of Contents 
1. Executive Summary ...................................................................................................................................... 1 
2. Introduction ................................................................................................................................................. 3 
3. Southern Gulf Islands Context ....................................................................................................................... 4 
Population .................................................................................................................................................................. 4 
Census 2021 ............................................................................................................................................................... 5 
Governance Overview ................................................................................................................................................ 5 
4. Housing Need ............................................................................................................................................... 7 
Southern Gulf Islands Housing Needs Assessment, 2018 .......................................................................................... 7 
Southern Gulf Islands Housing Market Analysis Report (2022) ................................................................................. 9 
5. Policy and Bylaws ....................................................................................................................................... 10 
Secondary Suite and Cottage Analysis ..................................................................................................................... 10 
Multi-Family Development Analysis ........................................................................................................................ 12 
6. Financial Analysis Framework ..................................................................................................................... 15 
Rental Rate Assumptions ......................................................................................................................................... 15 
Construction Cost Data ............................................................................................................................................ 16 
Capital Budget Assumptions ........................................

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