The Whistler Housing Authority (WHA) delivered a detailed update to Whistler's mayor and council on March 25, showcasing major accomplishments, new housing targets, and financial health—while acknowledging the continuing challenge of high demand for employee housing.
Strategic plan builds on growth momentum
The WHA presented its new 2025–2028 Corporate Plan, centred on three strategic priorities: increasing employee housing inventory; providing robust portfolio management; and delivering innovative housing programs and services.
“This plan largely continues the trajectory and growth of the organization and builds upon the evolution of the work underway to address the employee housing needs of the workforce,” said WHA general manager Marla Zucht.
Highlights from 2024 include the opening of 48 new rental homes at the Hemlocks, a $12.7 million provincial grant, and $27.3 million in low-cost financing to support 104 more units currently under construction. Another 125 units are planned at 1600 Mount Fee Road.
The WHA now manages nearly 7,500 beds reserved exclusively for Whistler’s workforce—almost 50 per cent of the town’s permanent population. However, the need remains acute.
“There have been over 1,000 new employee beds created in the last seven years, and close to 900 more are progressing,” said Zucht. “But we know it is still not enough, and nor will the additional 900 beds be enough.”
As of March 2025, there are 684 net applicants waiting to purchase housing and 560 for rentals. These net numbers reflect individuals not currently housed in WHA units.
The total number of applicants on the waitlist, which includes ones already housed by WHA, is 750 for rental units and 1,100 for ownership. Zucht highlighted that while the waitlist is long, people already housed in WHA units often wait for their preferred option and pass up initial offers, which then go to those further down on the waitlist.
“Employee housing has given many the ability to move forward with building their lives in Whistler with confidence and stability," she said. "It can be life-changing.”
The WHA is also working with municipal staff on new enforcement tools and refining housing regulations to improve compliance and unit utilization. Enhanced digital systems are being implemented to manage inventory and eligibility.
Financial snapshot
The WHA reported its financial position, with an accumulated surplus of $41.4 million as of December 2024. However, finance director Flora Ferraro cautioned: “I don’t want people to walk out of here thinking we have $41.4 million in cash.”
Most of that surplus is tied up in assets and debt obligations, with actual unrestricted cash reserves at $875,000. The WHA posted an $11.2 million annual surplus for 2024, buoyed by government grants and the completion of new rental developments.
Debt stands at $39 million and is projected to rise to $55 million in 2025 with the completion of the 1475 Mount Fee Road project.
Low capital reserves
Councillors expressed concern over the modest size of capital reserves—just over $1 million—relative to the scale of WHA’s housing portfolio.
“That seems kind of low,” noted Councillor Cathy Jewett.
Ferraro highlighted a solution to low reserves is a new contribution model introduced in 2024, allocating different reserve levels based on building age and condition. Older properties now see 25 per cent of revenues earmarked for reserves, with 10 per cent and four per cent contributions for mid-aged and newer buildings, respectively.
Still, balancing reserve growth with new development remains a challenge.
“We’ve done 10- to 20-year cash flows… at this stage, it all pencils,” Ferraro said. “It’s so critical [to have] government support for … future builds.”
When asked if the WHA looks to other communities for innovation, WHA staff said Whistler remains the leader in this space.
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