P.E.I. hoping to attract company to manufacture modular homes for the province
The P.E.I. government says its plan to address the province's housing shortage includes finding a company to manufacture modular homes on the Island.
The government announced Monday it is prepared to offer financial incentives to bidders willing to move quickly to fast track housing starts. Those incentives include the possible use of government land for a fabrication plant.
"Modular construction presents an opportunity to quickly and efficiently create new housing stock," Housing Minister Rob Lantz said in a statement. "We will continue to work with industry and across government to facilitate innovative approaches to housing solutions."
Modular home manufacturers are being asked to submit proposals no later than June 6, and all bids must include a commitment to dedicate the majority of production to the local market for five years.
Under the terms of the government's offer, a modular home is defined as a house that is built off-site, usually in an indoor factory, and then shipped in sections to its destination property, where the modules are assembled on a permanent foundation. As well, it must be built to meet the standards of the National Building Code.
Like other provinces, Prince Edward Island is dealing with a housing crisis exacerbated by labour shortages, increased construction costs and stubbornly high interest rates. As well, the province's population has grown by 14 per cent in the past five years, the highest growth rate in Canada.
"P.E.I.'s housing starts are no longer keeping up with the growth in the number of households as they have historically done," the government says in a document that explains its request for expressions of interest.
"Other issues negatively impacting housing supply include expanded construction timelines ... sometimes lengthy permit processes, the use of properties for short-term rentals and changing family structures."
Meanwhile, the Island's population is expected to keep growing as the government seeks to attract more people to offset an aging population and significant shortages of skills and labour.
Recent forecasts suggest P.E.I.'s population -- now 176,000 -- could reach 200,000 by 2030.
In February, the province released a five-year housing strategy that includes 20 initiatives aimed at ensuring all residents have access to adequate, affordable housing. The "Building Together" strategy says the province needs an average of 2,000 more homes to be built annually to accommodate population growth.
While employment in the Island's construction industry is at a record high, the workforce has to expand to meet housing demands, the document says.
Among other things, the strategy calls for: increasing the supply of affordable rental housing through a combination of acquisitions and new construction; reducing the number of residents who spend more than 30 per cent of their before-tax income on housing; providing support to first-time homebuyers; increasing the number of supportive housing units; and working to end chronic homelessness.
This report by The Canadian Press was first published May 6, 2024.
For more Prince Edward Island news visit our dedicated provincial page.
CTVNews.ca Top Stories
Signs of Alzheimer’s were everywhere. Then his brain improved
Blood biomarkers of telltale signs of early Alzheimer’s disease in the brain of his patient, 55-year-old entrepreneur Simon Nicholls, had all but disappeared in a mere 14 months.
Flammable kids' sleepwear, salmonella-contaminated chips: Here are the recalls of this week
Health Canada and the Canadian Food Inspection Agency issued recalls for various items this week, including kids' bassinets, chips, and stoves. Here's what to watch out for.
Lyon-bound Air Canada Boeing 787-8 Dreamliner from Montreal turns back midflight due to pressurization alert
Passengers heading from Montreal to Lyon, France on Friday were forced to return home and depart the next day after a pressurization indication was detected in flight.
Sentencing trial set to begin for Florida man who executed 5 women at a bank in 2019
Zephen Xaver walked into a central Florida bank in 2019, fatally shot five women and then called police to tell them what he did. Now 12 jurors will decide whether the 27-year-old former prison guard trainee is sentenced to death or life without parole.
'How do you get hypothermia in a prison?' Records show hospitalizations among Virginia inmates
The Virginia State Police investigator seemed puzzled about what the inmate was describing: "unbearable" conditions at a prison so cold that toilet water would freeze over and inmates were repeatedly treated for hypothermia.
The secret Italian lakes that most tourists don't know about
Italy has dozens of secret smaller lakes that boast superb scenery, unknown to mass tourism, where locals get together on day trips and enjoy picnics.
Oilers dominate Canucks, win to force deciding Game 7
The Edmonton Oilers avoided elimination from the NHL playoffs Saturday night, beating the visiting Vancouver Canucks 5-1 in Game 6 of their second-round series.
Economists to have a close eye on April inflation report as BoC rate decision nears
Forecasters expect this week's inflation report to show Canada's inflation rate fell last month, but financial markets are still unsure whether a June interest rate cut is in the cards for the Bank of Canada.
Box tree moths have infested Ontario and experts say more are coming. Here's what to do to protect your garden
An invasive moth species is on the rise in Canada and, if you've planted a certain shrub, it could stand to ruin your garden.