B.C. to spend $1.9 billion to help build rental housing over the next decade

B.C. to spend $1.9 billion to help build rental housing over the next decade

VICTORIA — British Columbia’s government is investing $1.9 billion over the next 10 years to help build 14,000 affordable homes for renters.

Premier John Horgan says fixing the housing crisis in the province isn’t just about ownership, but making sure that those who rent can find and afford homes where they can have a future.

The new rental homes will be built through partnerships with municipalities, non-profit group and housing co-operatives.

Housing Minister Selina Robinson says people are struggling because of the housing crisis and the fund will help give people a place to call their own.

Each project built under the fund must provide at least 30 per cent of the units for those with moderate incomes, 20 per cent for low incomes and half of the homes must be for a mixture of low- to moderate-income households.

The government says the projects will be prioritzed based on the impact they would have in reducing the communities affordable rental housing needs.

The Canadian Press

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