B.C.: Housing fund to deliver 2,000 affordable rental units
The Community Housing Fund is part of a $19-billion housing investment by the B.C. government.
Key Takeaways:
- A total of 17 new projects in Metro Vancouver have been selected through the third intake of the Building BC: Community Housing Fund (CHF).
- The proposed projects will provide a total of 1,954 affordable rental homes.
- Additional projects on Vancouver Island, in the Interior and North will be announced later this week
The Whole Story:
Nearly 2,000 new affordable homes are on the way for renters in Metro Vancouver, through partnerships between the Province and local non-profit housing providers.
A total of 17 new projects in Metro Vancouver have been selected through the third intake of the Building BC: Community Housing Fund (CHF). The proposed projects will provide a total of 1,954 affordable rental homes for individuals, families, seniors, people living with disabilities and Indigenous people in B.C.
“Everyone deserves a decent home they can actually afford,” said Premier David Eby. “That’s why we’re taking unprecedented actions to rapidly build more affordable housing throughout the province, including through the Community Housing Fund. This latest round of funding will bring much-needed homes to every region of our province – from our fastest-growing cities to rural and remote areas – helping everyone find a decent home in the community they love.”
The announcement took place at 7567-140 St. in Surrey, the future site of an affordable housing project that will be operated by Kekinow Native Housing Society. Expected to be completed in late spring 2024, the project previously received CHF funding for Phase 2 of the development to build more than 100 homes for Indigenous people. The society will be receiving CHF funding for another project as one of the successful proponents from the CHF call for proposals issued in fall 2023.
“Through our Homes for People action plan, we are taking action to deliver affordable housing faster, and the Community Housing Fund is a key part of the plan,” said Ravi Kahlon, minister of housing. “These new homes mean that more people in B.C. will benefit from affordable homes in the communities they love, where they can grow their families and age in place.”
Including these projects, the province, through BC Housing, has identified more than 40 new projects to move forward, totalling approximately 3,500 affordable rental homes. Additional projects on Vancouver Island, in the Interior and North will be announced later this week. This brings the total to 12,500 affordable rental homes that are already open or underway through the CHF program since its launch in 2018.
The Community Housing Fund is part of a $19-billion housing investment by the B.C. government. Since 2017, the Province has nearly 78,000 homes that have been delivered or are underway.
