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The River View April 2025

Page 1

APRIL 2025

FREE - PLEASE TAKE ONE!

OUR PEOPLE, OUR COMMUNITIES, OUR STORIES

VOLUME 2, ISSUE 4

Carlota Galgos Canada

Kings Charles III Coronation Medal

Then and Now

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Housing booms as demand grows

I

t can seem like it is raining houses locally. From the apartment complexes either recently completed or under construction along Coverdale Road and at the top of Pinewood, a new multi-unit building under construction to accompany the fast-growing array of new homes in the Runneymeade area, and other new construction dotted throughout the town, Riverview feels like a housing boomtown. That perception is grounded in reality. In 2024, the value of Riverview’s building permits hit $137

million, a four-fold increase over 2023. Observes Riverview’s Economic Development Manager Shanel Akerley, “more housing units were permitted across all categories except for town and row houses.” That has pushed the town’s vacancy rate up to 1% - still below what is considered a healthy rate of 3% to 5%, but trending in the right direction. A release from the town notes that in 2023 that figure was 0.7%. Residential construction continues to be the main driver. A total of 180 building permits were issued in 2024,

k n a h T ! u o Y

representing 444 new housing units (with multiunit buildings factored in, along with single family dwellings). Last year was Riverview’s biggest for the creation of single unit dwellings as well as for accessory dwelling units, semi-detached and duplexes, and multi-units. Akerley points to a

range of factors driving residential growth in Riverview – immigration, inter-provincial immigration to the east coast, mainly from Central Canada, the relatively affordable cost of housing here compared to large urban centres, land availability, and the town’s system of grants designed

to spur development. Those municipal grant programs include a Commercial Development Grant, a Housing Accelerator Fund Garden and In-Law Suite Development Grant, and a Housing Accelerator Fund Affordable Three-Bedroom Unit Development Grant. Riverview’s Age-Friendly

Community Survey, conducted in 2023, found that 83% of seniors who responded said they want to stay in Riverview when they are ready to move or downsize, and that 65% of them are looking for townhouses and apartments. Continued on page 3

Thank you for 34 great years!

1991-2025

358 Coverdale Road, Riverview


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