Real estate developers in B.C. have a great opportunity to make money. The real estate market in B.C.

Recent headlines have highlighted real estate developers’ concerns about changes to accessibility standards in British Columbia’s building code. The changes will require that all large apartment and condo buildings have suites that are 100 percent accessible, and the first floor suites of smaller apartment buildings be easily adaptable for persons with disabilities.

Developers claim that this will increase costs for both buyers and builders.

A ready and willing lucrative market that’s been ignored

What if instead of viewing the new standards as a problem, developers viewed them as an opportunity? opportunity? Eight million people in Canada have disabilities, a five per cent increase since 2017. Six out of 10 PWDs (4.88 million people), experience barriers in accessing indoor or outdoor public spaces. The most common barriers are those related to physical spaces such as entrances or sidewalks (56%)

According to Abilities.ca PWDs are estimated to have a disposable income of approximately $47 Billion. Plus, if you include their families and friends in the equation, that’s about 12,000,000 Canadians. That’s more than a third. That’s the opposite of a niche market.

Canadians are estimated to have a disposable income of over $311 billion and they need a place to live. In other words, developers have a ready and willing lucrative market that, until now, they’ve ignored.

I would be remiss if I also didn’t mention that housing is a human right, so it’s important that the government step in to ensure that integrated, high-quality housing is available for all its citizens.

ADA: Cost of incorporating accessible features in new construction is less that 1% of construction cost.

It’s also important to note that arguments for accessible housing becoming more expensive are misleading. Studies have shown that cost increases are negligible. The United States Americans with Disabilities Act National Network provides information and guidance about how to implement the ADA. :

“The cost of incorporating accessibility features in new construction is less than one per cent of construction costs. This is a small price in relation to the economic benefits to be derived from full accessibility in the future, such as increased employment and consumer spending.”

Accessibility investment as discretionary expenditure: A damaging narrative

It’s understandable that developers’ first reaction would be to see any building code changes that will cost them money as negatively impacting their bottom line. Couple this with the understanding that many companies sadly continue to see accessibility as a CSR (corporate social responsibility) initiative or something they do as a nice gesture to highlight that they’re good citizens. Consequently, accessibility investments are pushed to the bottom of budget lists as discretionary expenditures. This narrative is detrimental for both companies and PWDs.

I lost my vision at the age of 17, so I’ve lived both as a consumer who is sighted and as a visually impaired person. I have experienced the stigma of being visually impaired and heard a lot of pity. Let me tell you, I do not like it.

I don’t want to be treated with pity. My money is as good as anyone’s. On the other hand, when I enter an establishment and feel respected, and see that care has been taken to ensure the environment or the products consider me, then I am a loyal customer. Imagine creating such goodwill among hundreds of thousands consumers.

Consumers, not causes — reframed as a profit driver, building policy changes are positive for everyone

Clearly, there’s a disconnect between the disability market and developers’ understanding of changes to the building code as a business opportunity. We need a new way to frame accessibility. It’s not about being charitable to people with disabilities; it’s about providing a product to potentially hundreds of thousands of new buyers. They are not causes, but consumers. When reframed in terms of profit drivers, the changes to building policy are positive. Everyone should be able to afford it.

Developing inclusive communities is also the way forward. Many Cite a common prediction in the disability space. By 2040, there will be about 40% of the population with disabilities. Why would developers want to exclude almost half of the Canadian population?

You can also contact us by clicking here. Accessible housingWhile it is not a necessity for many of us right now, this will change very soon. Developers who are ahead of the curve, and embrace intentional accessibility, will have first access a new generation of eager customers.

Canada has set itself an ambitious goal of becoming a “barrier-free society”By 2040. While PWDs hope that legislation can help to improve inclusion, the government must also educate corporate Canada about the benefits of accessibility and the opportunities it offers.

Let’s stop talking about legislation and thinking of meeting accessibility requirements as checking compliance boxes on a form. Instead, let’s intentionally exceed expectations and design new products and services that provide a return on investment. Accessibility doesn’t need to be complicated or concerning. It can be empowering, and a chance to diversify revenue and customers.

Companies may hesitate to reframe the issue of accessibility because they feel there will be resistance both internally and externally. However, if you ask any PWD (including me), we’ll say that we relish being treated as consumers.

It’s not unscrupulous or dirty to consider accessibility as a potential profit source. Remember that this market of people with disabilities is one to which anyone can access at any time. Businesses that fail to recognize PWDs’ positive potential for their revenue do so at their peril.