Regina’s mayor says the city is on track to reach a three per cent rental vacancy rate sooner than its target of 2017.
In his second State of the City address since taking office, Mayor Michael Fougere said housing is still the top issue facing Regina.
However, Fougere said he believes the city’s current 1.8 per cent vacancy rate will climb to three per cent before 2017.
“We have one of the lowest vacancy rates in Canada; it is hurting our capacity to grow,” Fougere told reporters following his speech Thursday at Evraz Place.
“We need to address the issue and we’re doing it.”
Fougere said 2013 saw a “remarkable” increase in housing construction in the city, with over 3,100 homes built last year, in addition to 1,130 apartment units.
