Funded by the 2023 operating budget and completed by McEleney Engineering, the purpose of the Housing Needs Assessment was to help the Town understand the local housing situation and provide objective data and analysis to prospective housing developers. This report was presented to Council at its meeting on October 10, 2023.
This project will be brought to Council on a bi-annual basis for funding to update and analyze our housing situation, and this report is an essential first step in the process. Future iterations of this report will seek to gather more specific data for the Town of Olds, as the Town is currently mixed into the Mountain View County region with Statistics Canada. While this is not bad or inaccurate, having Town-specific data will be a worthwhile investment.
The report confirms many issues that were suspected, including:
- There is a housing shortage across virtually all sectors, including rental units, seniors, students, and starter homes.
- Housing inventory is highly concentrated in the single detached realm and new builds are predominantly 'higher end' homes.
- There are a significant number of older homes, which could mean a reduction on housing stock as these are demolished or abandoned.
- Community engagement was undertaken, and there was an overwhelming consensus that housing affordability and shortages are primary issues.
This report has been shared with key stakeholders locally and in the development community.