Saturday, June 22, 2024

BC reveals plan to construct thousands of affordable rental homes across the province

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This week, the province has announced that thousands of new homes are in the works, specifically for low to middle income British Columbians. 

Along with the announcement, BC issued a call to action for non-profits, First Nations, municipalities and other organizations to submit proposals in order to access provincial funding via the Building BC: Community Housing Fund (CHF).

“We are in a housing crisis, and this new round of CHF funding will ensure more people have access to an affordable place to live by creating approximately 3,500 homes,” said Ravi Kahlon, Minister of Housing. 

“This is a significant step toward our goal of 20,000 CHF-funded homes by 2032, as our province increases its housing stock faster than ever so people have the homes they need now and into the future.”

“Together, with our many partners, we’re making progress, but we know there’s much more work to be done,” he added. 

BC Housing will be managing the funding and proposals which will lead to more affordable rental homes can be submitted to them by whomever is seeking the money. 

“With rents rising faster in B.C. than anywhere else in the country, the homes funded through the Community Housing Fund could not come at a more critical time,” said Jill Atkey, CEO, BC Non-Profit Housing Association. 

“Non-profit housing providers have been eagerly anticipating this call, and the affordable developments they bring forward will impact the lives of thousands of individuals and families for decades to come.”

The province’s short-term goal is to build 3,500 units by 2024. 

Prioritization will be given to proposals which meet specific criteria which includes targeted communities where there is particular need for additional housing options. 

The province has committed $3.3 billion to the CHF in order to meet their 20,000 long-term goal. 

The Ministry of Housing says 9,000 of those 20,000 units are already lived in or being built throughout the province.

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Curtis Blandy
curtis@victoriabuzz.com

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