2,400 New Affordable Rental Homes on The Way in B.C.
More than 2,400 new affordable rental homes are coming for people with moderate and low incomes in 39 communities throughout the province.
The Columbia Basin Trust is providing $2.5 Million towards 114 New Affordable Housing Units in Aq’am, Fruitvale, Kaslo, New Denver, Sparwood and Valemount.
“The Trust is thrilled to partner with the Province and Basin communities to help build more affordable housing units in the region,” said Johnny Strilaeff, President and CEO of Columbia Basin Trust. “We know that communities are healthier and more vibrant when residents have access to safe and affordable housing. We’re excited to see these projects develop and look forward to making a real difference in people’s lives.”
“These new homes mean that thousands of families, seniors and Indigenous peoples in our province will enjoy safe, new, affordable homes,” said David Eby, Attorney General and Minister Responsible for Housing. “These homes are part of the nearly 30,000 affordable homes now complete or underway in every corner of the province, building on the significant momentum as we recover from more than a decade of underinvestment in housing by the old government. We’re making good progress in addressing the housing crisis for all British Columbians, and there’s more to do.”
A total of 47 new projects have been selected through the Building BC: Community Housing Fund (CHF). The fund will provide approximately 2,455 rental homes for individuals, families, seniors, people with disabilities and Indigenous peoples throughout the province.
“Every one of the affordable homes announced today are desperately needed and will change the life course for thousands of individuals and families in the decades ahead,” said Jill Atkey, CEO, BC Non-Profit Housing Association. “The community housing sector looks forward to working with municipal partners to ensure these new homes are built as quickly as possible.”
The CHF supports mixed-income buildings. These projects have:
- 50% of the units for households with annual incomes up to $64,000;
- 30% of the units for households with incomes up to approximately $74,000; and
- 20% of the units for households with very low incomes (including those on income or disability assistance).
More than 1,000 of the new homes will be for Indigenous individuals, families and Elders.
“The Aboriginal Management Housing Association (AMHA) is thrilled to see that out of the 47 projects approved for the CHF, 21 are Indigenous-led projects,” said Margaret Pfoh, CEO, AMHA. “Each of the successful housing developments will enhance and foster a broader sense of community for all future tenants. Indigenous housing issues require Indigenous solutions, and we congratulate each society for leading the change we need to see in our province. In order to move forward in reconciliation, it is crucial British Columbia continues to prioritize the unique housing barriers faced by Indigenous peoples.”
The CHF is part of the Province’s 10-year, $7-billion housing plan. It is an investment of $1.9 billion to build more than 14,000 affordable rental homes for moderate- and low-income families and individuals over 10 years. Three and a half years in, more than 8,600 of these homes are already open, under construction or in development.
A community breakdown of the new projects is included in the backgrounder below.
- These new projects are being funded through the second intake of the CHF.
- Twenty-three projects, consisting of approximately 1,170 homes, were announced in 2020. This brings the total number of homes announced during this intake to more than 3,600.
A map showing the location of all announced provincially funded housing projects in B.C. is available online: https://www.bchousing.org/homes-for-BC
To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://workingforyou.gov.bc.ca/
A backgrounder follows.