B.C. Attorney General David Eby, Minister Responsible for Housing. THE CANADIAN PRESS/Chad Hipolito

B.C. Attorney General David Eby, Minister Responsible for Housing. THE CANADIAN PRESS/Chad Hipolito

B.C. announces $2B for affordable, middle-income family home projects

HousingHub financing to encourage more developers, groups – with low-interest loans – to build affordable homes

The province plans to invest an additional $2 billion to support thousands of new homes priced for middle-income B.C. families.

In a Thursday (April 15) announcement by Attorney General David Eby, Minister Responsible for Housing, the money will encourage developers and community groups – by offering low-interest loans – to build affordable homes.

“These loans are repaid once construction is complete, allowing HousingHub to reinvest in additional housing, continuing to increase the number of homes built for middle-income households,” Eby said.

He added, “the only limit at this point is the time needed for municipal approval processes and the speed of construction.”

RELATED: B.C. to partner with cities, churches to build new affordable housing

HousingHub, a division of BC Housing established in 2018, primarily supports the development of rental homes through local governments, Indigenous partners and non-profit partnerships with BC Housing.

So far, it has assisted with the financing of 3,400 homes in the province for households with an average annual income of $75,000.

“Hard-working middle-income families have been priced out of the housing market. The pandemic pushed prices even higher,” said Premier John Horgan.

HousingHub homes offered for purchase must be at or below market rate and remain affordable for a minimum of 10 years, Eby said.

The funds have designated as part of the 2021 provincial budget.



sarah.grochowski@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

affordable housing

Just Posted

A nurse gets a swab ready to perform a test on a patient at a drive-in COVID-19 clinic in Montreal, on Wednesday, October 21, 2020. THE CANADIAN PRESS/Paul Chiasson
Island’s daily COVID-19 case count drops below 10 for just the second time in 2021

Province reports 8 new COVID-19 cases on Vancouver Island Wednesday

Ancient Forest Alliance campaigner Andrea Inness walks beside an enormous western red cedar stump in a BCTS-issued cutblock in the Nahmint Valley. (PHOTO COURTESY TJ WATT)
B.C. forestry watchdog finds lack of compliance in Nahmint logging

Forest Practices Board says old growth and biodiversity near Port Alberni are at risk

Port Alberni Fire Dept. deputy chief Wes Patterson, right, and another firefighter monitor the front of a garage at Second Avenue and Argyle Street that burned on Wednesday, May 12, 2021. (SUSAN QUINN/ Alberni Valley News)
Fire starts in empty garage on Argyle Street in Port Alberni

Garage was attached to empty multi-storey commercial building

A painting by Port Alberni artist Robert Hall. Hall uses a technique called Abstract Impressionism. (SUBMITTED PHOTO)
ARTS AROUND: Port Alberni artist showcases abstract impressionism

Robert Hall’s paintings on display at Rollin Art Centre until May 29

Rob Mah was just 20 when he hosted Strictly Jazz, a radio show on CJAV radio in Port Alberni, B.C. A fan of the Big Band era of music, he spun a lot of Dixieland jazz on his show. (PHOTO COURTESY MAH FAMILY)
QUINN’S QUIPS: Radio station’s 75th brings memories to Mah family

Celebrating the late Rob Mah’s victories timely for national Asian heritage month

Prince Rupert was one of the first B.C. communities targeted for mass vaccination after a steep rise in infections. Grey area marks community-wide vaccine distribution. (B.C. Centre for Disease Control)
B.C. tracks big drop in COVID-19 infections after vaccination

Prince Rupert, Indigenous communities show improvement

Canada’s demo Hornet soars over the Strait of Georgia near Comox. The F-18 demo team is returning to the Valley for their annual spring training. Photo by Sgt. Robert Bottrill/DND
F-18 flight demo team returning to Vancouver Island for spring training

The team will be in the Comox Valley area from May 16 to 24

Saanich police and a coroner investigated a fatal crash in the 5200-block of West Saanich Road on Feb. 4, 2021. (Devon Bidal/News Staff)
Police determine speed, impairment not factors in fatal Greater Victoria crash

Driver who died veered across centre line into oncoming traffic for unknown reason, police say

Ladysmith RCMP safely escorted the black bear to the woods near Ladysmith Cemetary. (Town of Ladysmith/Facebook photo)
Bow-legged bear returns to Ladysmith, has an appointment with the vet

Brown Drive Park closed as conservation officers search for her after she returned from relocation

Brian Peach rescues ducklings from a storm drain in Smithers May 12. (Lauren L’Orsa video screen shot)
VIDEO: Smithers neighbours rescue ducklings from storm drain

Momma and babies made it safely back to the creek that runs behind Turner Way

Signage for ICBC, the Insurance Corporation of British Columbia, is shown in Victoria, B.C., on February 6, 2018. THE CANADIAN PRESS/Chad Hipolito
$150 refunds issued to eligible customers following ICBC’s switch to ‘enhanced care’

Savings amassed from the insurance policy change will lead to one-time rebates for close to 4 million customers

Pixabay
Island Health: two doctors, new clinic space to avert Port McNeill health crisis

Island Health has leased space to use as an immediate clinic location to avert health crisis

Police investigate a fatal 2011 shooting in a strip mall across from Central City Shopping Centre, which was deemed a gang hit. The Mayor’s Gang Task Force zeroed in on ways to reduce gang involvement and activity. (File photo)
COVID-19 could be a cause in public nature of B.C. gang violence: expert

Martin Bouchard says the pandemic has changed people’s routines and they aren’t getting out of their homes often, which could play a role in the brazen nature of shootings

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Most Read