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

North Okanagan business Hytec Kohler set up a COVID-19 vaccination clinic at the Spallumcheen plant Friday, May 14. (Jennifer Smith - Morning Star)
More than half of eligible adults in Interior Health vaccinated

Over 365,000 vaccine doses have been administered throughout the Interior Health region

New Border Bruins owner Dr. Mark Szynkaruk reps team colours with his young sons and wife Tracey. Photo courtesy of the Grand Forks Border Bruins
KIJHL’s Border Bruins sold to Grand Forks doctor

The league announced the sale Friday, May 14

Kerry Reed
West Kootenay Fishing Report: Spring fishing, the bite is on!!

Anglers having great results on Kootenay Lake and Columbia River

File photo
Paramedic training returning to Castlegar

Emergency Medical Responder and Primary Care Paramedic training to take place in Castlegar

Daily confirmed COVID-19 cases reported to B.C. public health, seven-day rolling average in white, to May 12, 2021. (B.C. Centre for Disease Control)
B.C. preparing ‘Restart 2.0’ from COVID-19 as June approaches

Daily infections fall below 500 Friday, down to 387 in hospital

A vial of AstraZeneca vaccine is seen at a mass COVID-19 vaccination clinic in Calgary, Alta., Thursday, April 22, 2021. Dr. Ben Chan remembers hearing the preliminary reports back in March of blood clots appearing in a handful of European recipients of the Oxford-AstraZeneca COVID-19 vaccine. THE CANADIAN PRESS/Jeff McIntosh
Science on COVID, VITT constantly changing: A look at how doctors keep up

While VITT can represent challenges as a novel disorder, blood clots themselves are not new

Poached trees that were taken recently on Vancouver Island in the Mount Prevost area near Cowichan, B.C. are shown on Sunday, May 10, 2021. Big trees, small trees, dead trees, softwoods and hardwoods have all become valuable targets of tree poachers in British Columbia as timber prices hit record levels. THE CANADIAN PRESS/Jen Osborne.
Tree poaching from public forests increasing in B.C. as lumber hits record prices

Prices for B.C. softwood lumber reached $1,600 for 1,000 board feet compared with about $300 a year ago

The warm weather means time for a camping trip, or at least an excursion into nature. How much do you know about camps and camping-related facts? (John Arendt - Summerland Review)
QUIZ: Are you ready to go camping?

How many camp and camping-related questions can you answer?

On Friday, May 14 at Meadow Gardens Golf Club in Pitt Meadows, Michael Caan joined a very elite club of golfers who have shot under 60 (Instagram)
Crowds at English Bay were blasted with a large beam of light from an RCMP Air-1 helicopter on Friday, May 14. THE CANADIAN PRESS/Marc Grandmaison
Police enlist RCMP helicopter to disperse thousands crowded on Vancouver beach

On Friday night, police were witness to ‘several thousand people staying well into the evening’

People shop in Chinatown in Vancouver on Friday, February 5, 2021. THE CANADIAN PRESS/Jonathan Hayward
Vancouver community leaders call for action following 717% rise in anti-Asian hate crimes

‘The alarming rise of anti-Asian hate in Canada and south of the border shows Asians have not been fully accepted in North America,’ says Carol Lee

Sinikka Gay Elliott was reported missing on Salt Spring Island on Wednesday, May 12. (Courtesty Salt Spring RCMP)
Body of UBC professor found on Salt Spring Island, no foul play suspected

Sinikka Elliott taught sociology at the university

The first Black judge named to the BC Supreme Court, Selwyn Romilly, was handcuffed at 9:15 a.m. May 14 while walking along the seawall. (YouTube/Screen grab)
Police apologize after wrongly arresting B.C.’s first Black Supreme Court Justice

At 81 years old, the retired judge was handcuffed in public while out for a walk Friday morning

Most Read