Victoria is setting its sights on the future. With the new 2050 Official Community Plan (OCP) now officially adopted, the city has laid out a bold vision for how our neighbourhoods will evolve over the next 25 years. From new zoning layers to housing diversity goals, this plan will shape everything about how and where we live, work, and invest in the years ahead.
For homeowners, it could mean new potential for redevelopment and rising land value. For buyers, it opens doors to more housing choices and price points. And for investors, it signals where the city’s next major growth corridors will emerge.
Let’s break down what the new OCP means for Victoria’s real estate market — and how these changes could influence your next move.
Understanding Victoria’s 2050 Official Community Plan
The Official Community Plan (OCP) is the city’s long-term playbook — a guiding document that shapes land use, housing, transportation, parks, and sustainability goals. It doesn’t approve specific developments but sets the framework for what City Council can approve in the future.
Every rezoning, density increase, or subdivision must align with this plan. The last OCP was created in 2012, and it guided the past decade of growth. The new 2050 version now charts the path for how Victoria will grow as its population and housing demand surge.
Today, Victoria has roughly 95,000 residents, but by 2050, the city expects to reach around 142,000 people — a 50% population increase. That translates to a need for about 34,000 new homes, plus 9,000 more to fill existing gaps in supply.
To meet that goal, the city has committed to ensuring 65% of new housing is secured rental and 17% is family-sized (three or more bedrooms). That’s a clear signal: future rezonings will heavily prioritize rental housing, multi-family forms, and family-oriented spaces.
The Residential Fabric Zone — A Game-Changer for Victoria Neighbourhoods
One of the most transformative updates in the 2050 OCP is the introduction of the Residential Fabric Zone. Think of it as a middle ground between traditional single-family neighbourhoods and high-density centres.
In the past, much of Victoria’s land was locked into single-detached zoning, limiting how much new housing could be added. The new Residential Fabric Zone acknowledges that if the city wants to meet its housing goals, many existing areas must evolve.
This zone covers large portions of established neighbourhoods — including Fairfield, Fernwood, Gonzales, Hillside, and areas near the Saanich border — and allows for gradual, design-sensitive change. Under the new framework, these areas will support a mix of “missing middle” housing types such as:
- Duplexes and triplexes
- Rowhomes and courtyard townhouses
- Small apartment buildings up to four storeys
The key principle here is “evolution, not demolition.” Rather than replacing character homes with large condo projects, the plan encourages gentle density, such as conversions and additions that maintain the look and feel of Victoria’s heritage neighbourhoods.
For buyers, that means new options in walkable, desirable areas — homes that balance character with modern living. For homeowners, it could mean increased redevelopment potential and rising land values as zoning updates align with the OCP.
For instance, a 60-foot lot in a Residential Fabric area might attract interest from builders or small developers looking to create multi-unit projects once the city updates its zoning bylaws.
How the OCP Divides Victoria’s Urban Structure
Beyond the Residential Fabric Zone, the OCP identifies four other urban layers that define how and where growth will occur:
1. Downtown Core
Victoria’s economic and cultural heart will continue to see the tallest buildings and most significant commercial development. Expect more mixed-use towers, improved transit access, and an ongoing focus on vibrancy and walkability.
2. Town Centres
Areas like Hillside-Quadra and Vic West are targeted for mid-rise growth and transit-oriented development. These zones will provide higher-density housing while connecting more residents to major employment and retail hubs.
3. Community Villages
Neighbourhood hubs like Cook Street Village, Fernwood, and James Bay will see moderate density — up to six storeys — supporting small businesses and mixed-use development that enhances local life.
4. Employment and Industrial Lands
To keep jobs close to home, the city is committed to protecting employment lands and encouraging light industrial and creative uses near transit corridors.
Protecting Renters and Promoting Affordability
The OCP also includes measures to protect renters and ensure that new development doesn’t come at the cost of existing affordable housing. Developers must replace the same number of bedrooms lost through redevelopment and offer tenant relocation support.
Additionally, the city discourages strata conversions when the regional vacancy rate is below 4%, helping preserve the existing rental stock.
At the same time, the plan supports co-ops, collective housing models, and garden suites, which can provide more affordable and community-oriented living options.
Building a More Sustainable City
Victoria’s 2050 OCP aligns housing and growth with the city’s broader climate and sustainability goals. The city is aiming for a 50% reduction in emissions by 2030 and net-zero by 2050.
That means encouraging compact, walkable neighbourhoods near transit and parks, adding linear parkways and green infrastructure, and improving active transportation networks.
Areas near Community Villages and transit corridors are expected to see the most appreciation in property value, as they will attract new investment and redevelopment focused on low-carbon, energy-efficient design.
What It Means for Homeowners
If you own a detached home in a Residential Fabric Zone, your property may become more valuable over time. As the city updates its zoning bylaws to align with the OCP, you may gain redevelopment opportunities or attract builder interest looking to create multi-unit projects.
Even if you don’t plan to sell, these changes could enhance your neighbourhood’s livability, with more diverse housing, improved transit, and local amenities.
What It Means for Buyers and Renters
For buyers, the OCP signals more choice and greater diversity in housing stock. Expect to see:
- More multi-unit and rental housing options across the city.
- Smaller, more energy-efficient homes at varying price points.
- Greater focus on family-sized units for long-term residents.
This approach could help stabilize prices over time as supply expands to meet pent-up demand.
What It Means for Investors and Developers
For investors, the OCP acts as a roadmap to opportunity. Areas within the Residential Fabric Zone and near Town Centres or Villages are likely to see increased demand as zoning evolves.
Builders who focus on missing middle housing will be well-positioned to benefit from the city’s growth goals — especially projects that align with sustainability, family living, and affordability priorities.
The Big Picture — A Roadmap for a Livable, Sustainable Victoria
The Victoria 2050 OCP isn’t just a planning document — it’s a vision for how the city will balance growth, sustainability, and livability. It represents an opportunity to create more inclusive neighbourhoods, where residents can live, work, and play within the same community.
For homeowners and investors, it’s a reminder that policy drives value — and understanding how zoning and planning frameworks evolve is key to making informed real estate decisions.
If you’d like to learn how the Residential Fabric Zone or other OCP updates might affect your property, future purchase, or investment strategy, our team at North Pacific Homes Group with eXp Realty is here to help.
Let’s Talk About Your Next Move
As Victoria grows, informed decisions will make all the difference. Whether you’re looking to buy, sell, or invest, the new OCP creates both opportunities and advantages for those who understand where the market is headed.
We’re happy to discuss how these changes might impact your plans — and how to position yourself for success in Victoria’s evolving real estate landscape. Contact us.
