A massive investment into affordable BC housing was announced by federal government representatives in Saanich on Tuesday.
Over the next 5 years, the Canadian government plans to build 1,500 affordable rental units across BC, with 1,000 of them reserved for people experiencing homelessness or those at risk of homelessness, and 500 set aside for women fleeing violence.
The entire project is expected to cost $75 million, with BC Supportive Housing Fund managing 1,000 affordable units and the provincial Women’s Transition Housing Fund operating the other 500.
See also:
- Victoria is building 138 new affordable housing units at two development locations
- Province opens new homeless modular housing project on Vancouver Island
- Province building 24 affordable rental homes on Salt Spring Island
“Every Canadian deserves a safe and affordable place to call home,” said Jean-Yves Duclos, Minister of Families, Children and Social Development in a statement.
“Today’s announcement is the next step in our historic investments in British Columbia housing. 1,500 more families will be able to have a brighter future thanks to these investments.”
Funding for the $75 million construction project comes from the federal government’s National Housing Strategy (NHS).
Over the next 10 years, the NHS ambitiously plans to create 100,000 new housing units, repair and renew over 300,000 existing housing units, help place 530,000 families into better housing conditions, and reduce chronic homelessness in the country by 50%.
The federal government has also committed $55 billion for their 10 year plan, and have special projects set aside to help women and children fleeing violence, seniors, Indigenous Peoples, people with disabilities, veterans, those with mental health and addiction challenges, and young adults.
