The October 2024 building permit report for Chilliwack shows a significant investment in the community, with a total of 52 permits issued adding 86 new residential units to the city’s housing inventory. This brings the total for the year to 489 permits, accounting for 555 new dwelling units citywide, and an impressive $295 million in development value.
A notable highlight for October is the issuance of a building permit to Luteyn Architecture Ltd for a new 71-unit apartment building on Hazel Street, valued at $14.7 million. This project, originally approved by the City Council in May, moves forward despite initial community opposition, as council deemed it a constructive addition to the area. The involvement of Luteyn Architecture, a respected firm, reinforces the project’s appeal and marks a step forward in addressing Chilliwack’s housing demand.
This development pushes the 2024 total for multi-family units to 392 – the second-highest total in the last decade. The busiest year remains 2022, with a record of 511 multi-family units approved, a figure that may be out of reach this year. Nonetheless, this year’s high number demonstrates the city’s strong commitment to multi-family developments to accommodate growing housing needs.
While October’s addition of 86 new residential units exceeded the minimum monthly threshold for the provincial government’s housing targets, Chilliwack is still playing catch-up. Lower permit approvals in August and September left the city trailing behind the target pace, with a significant milestone report due by the end of 2024. However, this October boost reflects an encouraging push to meet regional housing demands and close the gap.
The October report continues to highlight a decline in single-family and townhouse permits, aligning with post-pandemic market shifts and the impact of higher interest rates. 141 single-family dwelling permits have been approved in 2024—under 30% of the 496 permits issued by this point in 2021. Townhouse permits also remain low, with only 20 units approved, about a quarter of the 78 units approved by October 2020.
Notably, apartments have outperformed other property types, as seen in the MLS Home Price Index Benchmark Price, which shows stronger price stability for apartments relative to single-family homes and townhouses. Federal rate reductions this year could further support apartment demand and overall housing activity, while recent Chilliwack and District Real Estate Board data suggests a gradual rise in housing demand. As market conditions evolve, Chilliwack may see additional growth across housing types in the months ahead.
