Industries located in and around the City of Terrace are expecting a period of rapid economic growth and expansion. The City of Terrace is currently lacking the infrastructure and resources to sustain a healthy and thriving community in a response to economic and development speculations. As a result, the people of the Terrace area are struggling with housing affordability, as evident by the 44% of residents that are spending more than 30% of their income on rent and utilities and of that 18% are spending more than half of their incomes in order to sustain their current housing (BCNPHA Rental Housing Index, 2015).
The reality is that many residents are struggling to make ends meet and the projected population growth of 30-50% by 2025 (City of Terrace, 2014) will only increase the demand for additional housing, business developments and amenities. However, as we work together as a community to address housing needs, through the means of renovations or new developments, prudent planning dictates multiple aspects to be considered, in order to create healthy and vibrant communities:
- Creating aesthetically pleasing development plans
- Connecting /integrating into the existing community
- Maintaining accessible transportation/pedestrian nodes
- Considering future developments or community plans
M’akola Development Services is currently exploring initiatives and is collaborating with other non-profit societies within the Terrace region to identify and create housing solutions. Please check our website and social media regularly for updates and progress reports. See our twitter here @makoladevelops!
To view more information see “Terrace Standard: Affordable housing needed in northwestern BC” by the BC Non-Profit Housing Association (http://bcnpha.ca/news/terrace-standard-affordable-housing-needed-in-northwestern/ )