Quispamsis faces a housing shortfall of hundreds of units over the next 20 years.
That is why the town has applied for $9 million from the federal Housing Accelerator Fund.
Representatives from Dillon Consulting gave a presentation to council members on Tuesday.
“We’re trying to look at encouraging housing initiatives that increase your supply in relationship to where you are and accentuating that trajectory over three to four years,” said Jennifer Brown, an associate at Dillon Consulting.
The firm put together a housing needs assessment as part of the application to better understand the town’s current and future housing needs.
Stephen Stone, a partner at Dillon Consulting, said the results found the town is not seeing enough housing starts to keep up with demand.
“Over our planning horizon of about 15 years, you’re looking at a housing supply deficit of close to 900 units. Over 20 years, that increases to closer to 1,500,” said Stone.
That figure is based on an average of 65 new permits issued each year and a 1.5 per cent population growth annually.
Stone also noted that smaller household sizes and an aging population suggest an increased demand for smaller unit sizes and diverse unit types.
Currently, about 83 per cent of the town’s housing stock is single detached homes. Apartments represent about three per cent and semi-detached homes/duplexes represent six per cent.
Brown said the money that the town has applied for will not pay for specific housing projects in the community.
“It’s going to cover your land use planning, your regulation updates. It’s going to cover your infrastructure planning. We’re also looking at things like land acquisition,” she said.
Quispamsis has requested funding to support seven different initiatives, including corridor planning along the north and south ends of Hampton Road.
Those two projects will consider infrastructure, land use planning and transportation networks, as well as planning design work to extend water and wastewater services.
The town also plans to modernize its zoning bylaw to allow for a broader and more innovative approach to housing.
Other initiatives include incentives for developers, a streamlined permitting process, and a One Stop Shop for development.
Funding announcements are expected in the fall and, if the town is successful, initial funding should be handed out before the end of the year.
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