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A near $500-million investment from the provincial government is set to bring more than 4,900 new affordable rental homes to British Columbia.
The homes will be for middle-income families in 42 communities around the province thanks to the Building BC: Community Housing Fund.
Homes will be a mix of units for middle, moderate and low-income housing, addressing the need for affordable housing across a range of income levels.
"Years of inaction on the B.C. housing crisis left families struggling to get by and unable to get ahead," said Premier John Horgan.
"These new, affordable rental homes are an important step toward addressing the housing crisis and giving families in every part of the province a break from skyrocketing housing costs."
Projects were selected through a request for proposals, which was issued in the spring and closed on Sept. 18.
BC Housing will work with the various communities and societies to finalize these projects over the next few months.
The map below shows the approved projects throughout the province, which you can also view by clicking this link.
This is just one wave of work through the Building BC: Community Housing Fund, which is a total investment of $1.9-billion over 10 years.
It will build more than 14,000 affordable rental homes for seniors, families and low to middle-income earners.
“This historic investment in the community housing sector is an investment in British Columbians struggling to find safe, secure and affordable housing," said Jill Atkey, CEO of the BC Non-Profit Housing Association.
"Non-profit housing partners are hard at work turning these dollars into homes and are committed to ensuring that what is affordable in our sector today, will remain affordable for generations to come."
The first set of projects were selected by the Province of B.C., through BC Housing, based on criteria like targeted clients and the impact the project would have on the community’s affordable housing need.
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