Thanks for this question. It's timely. I will risk getting ahead of government policy in the spirit of candour.
This is an issue I'm looking at. We're figuring out whether we can adjust the rules now, but we have to do our homework to make sure we understand the consequences of the policy, both positive and potentially worrisome. Right now, my instinct is to err on the side of the positives, and not just because it will create financing for people who want to build four units. It could also potentially open up opportunities to convert existing single-family homes into multiresidential buildings. That's the style of most apartments in my community. They look like houses but have been divided to provide homes for different families.
The other piece is that if we are to make a change like this, it will coordinate the four-unit “as of right” zoning we embedded in our housing accelerator fund agreements with CMHC financing opportunities, as well as with the catalogue of pre-approved designs we're working on. This is so you have a line of financing for manufacturing with pre-approval at a municipal level. If we do all those things, we can shave many months off the process of getting something built, reduce barriers for new entrants in the homebuilding sector and put roofs over the heads of a lot more families at better prices than those that currently exist on the market.
Looking at it, the work isn't done.