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Pacific Canada  + Canada + Cross Border News  + Multi-residential Housing  | 

B.C. Government to Fund 3,500 New Affordable Housing Units

The B.C. government has committed to funding 3,500 new affordable housing units across the province.

Housing Minister Ravi Kahlon said the money will come from the government’s $3.3-billion Community Housing Fund as the province deals with a “housing crisis.” He did not specify the amount of the latest investment.

“This is a significant step toward our goal of 20,000 CHF-funded homes by 2032, as our province increases its housing stock faster than ever so people have the homes they need now and into the future,” said Kahlon in a news release.

The government is inviting non-profits, First Nations, municipalities and other organizations to submit proposals until mid-November. Approvals are slated to be announced in early 2024.

“Project-development funding will also be available for projects that require further development to prepare them for the next CHF funding call,” said the province in its news release.


Inside The Story

B.C. HousingMonte Stewart

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Development
  • ◦Financing
  • ◦Policy/Gov't
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