The federal government is adding $2 billion in financing to British Columbia's new BC Builds initiative aimed at fast-tracking the construction of middle-income rental housing. The funding will help create a minimum of 8,000 to 10,000 more new homes, including units of all sizes.
The federal government is doubling the financing available for a British Columbia housing plan, which the prime minister called "transformative." Justin Trudeau was in Vancouver on Tuesday to announce that Ottawa is adding $2 billion in financing to the province's new BC Builds initiative aimed at fast-tracking the construction of middle-income rental housing.
The prime minister called the plan "ambitious and fundamentally practical," saying the federal funding will help create a minimum of 8,000 to 10,000 more new homes. That number will go up as more land is secured, Trudeau said, adding the new units won't be limited to one and two bedrooms. "These will be units of all sizes, including up to three or four bedrooms, the kind of places where families can grow and they can call home," he said. The money comes on top of $2 billion in provincial funding for low-cost financing for developers to fast-track affordable rental housing on land that's underused or owned by government, communities or non-profit organizations. B.C
Federal Government Financing British Columbia BC Builds Construction Middle-Income Rental Housing New Homes