The Comox Valley Regional District has taken a major step toward boosting local affordable housing.

The CVRD Board has approved the creation of a new Comox Valley Housing Authority, which will focus on increasing the supply of non-market rental units across the region.

The move comes as more households face rising affordability pressures, with the district noting that roughly one in five local households spends more than they can reasonably afford on housing.

Board Chair Will Cole-Hamilton says the Authority will be a lean, purpose-driven organization aimed at unlocking new homes for workers, seniors, and families.

The Authority’s early work will centre on three areas: partnering on housing development, acquiring land, and coordinating regional affordable housing efforts. Officials say the goal is to overcome two of the biggest barriers to new projects - access to property and funding for early planning and design work needed to secure federal and provincial construction grants.

The CVRD says the new Authority will help build a pipeline of large-scale projects that are eligible for federal and provincial investment.

It will operate independently but in collaboration with the Regional District, with a Board made up of CVRD elected officials and people with housing development or operations experience.

Because the corporation must be approved by the province, the CVRD will now apply to the Ministry of Housing and Municipal Affairs before beginning recruitment for the Board of Directors and an Executive Director.

More details are available at Comox Valley RD.