The City’s Housing Affordability Strategy identified the need for policies and incentives to help develop and retain rental housing. Through regulation and policy, the City encourages the development of new purpose-built rental housing, including market rental, below-market and non-market housing.
Density Bonus and Amenity Cost Charge (ACC) Reduction (high density zones) – in high-density residential and mixed-used zones, optional bonus density is available when secured market rental housing is provided, including an affordable housing contribution. In applicable zones, Amenity Cost Charges are reduced on bonus rental density through an Amenity Cost Charge Reduction Bylaw (PDF). Learn more about Coquitlam’s density bonus program.
Rental Tenure Zoning (medium density zones) – in medium-density residential and mixed-use zones, higher density is enabled when rental housing is delivered.
Incentives for non-market housing: non-market housing is supported through grant funding from the Affordable Housing Reserve Fund and a Priority Review Policy for Nonprofit Housing.
Reduced Parking – As required by provincial legislation, there are no minimum residential parking requirements in Transit Oriented Areas (TOAs). Outside TOAs, purpose-built rental units qualify for lower off-street parking requirements than condos, reducing a major development cost.
Reduced Amenity Requirement – in medium- and high-density zones, purpose-built rental units receive a reduction in the required common amenity area.
Alternative Offsite Works Securities - Rental projects may secure deferred off-site works using subdivision bonds or a letter of assurance instead of cash or a letter of credit, freeing up capital and improving project viability.
