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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Five-year-old Bayne Krause poses for a photo with his mom Marianne. Bayne’s shirt reads, ‘I have Cystic Fibrosis. Help keep me healthy, please social distance.’ Photo: Laurie Tritschler
West Kootenay mom promotes awareness of cystic fibrosis

Marianne Krause wants people to know what it’s like for her five-year-old son to live with CF

A rolled-over semi along Highway 95. The RCMP have responded to nine collisions in the last month. (Brain Duchovnay photo)
Golden/Field RCMP recap last two months

The RCMP responded to 463 calls to service over the last two months

Details will be made available in the next few days. (File photo)
UPDATED: Community vaccine program to open in Golden

The clinic will be held from Saturday, May 8 until Sunday, May 16.

The higher elevation melt is getting underway as rivers such as Mark Creek in Kimberley are running faster. Paul Rodgers file
Snow packs down just below normal in East and West Kootenay

The West Kootenay in particular had below normal precipitation in April

The body of Brenda Ware, 35, was found along Highway 93 in Kootenay National Park on Thursday, May 6, 2021. (RCMP handout)
RCMP ask for tips after woman’s body found in Kootenay National Park

Brenda Ware was found along Highway 93 in the park, 54 kilometres north of the town of Radium

A bullet hole is seen in the windshield of an RCMP vehicle approximately 4 km from Vancouver International Airport after a one person was killed during a shooting outside the international departures terminal at the airport, in Richmond, B.C., Sunday, May 9, 2021. THE CANADIAN PRESS/Darryl Dyck
Homicide team IDs man in fatal YVR shooting as police grapple with spate of gang violence

Man, 20, charged in separate fatal shooting Burnaby over the weekend

The Independent Investigations Office of B.C. is investigating the shooting of an Indigenous woman in the Ucluelet First Nation community of Hitacu. (Black Press Media file photo)
B.C. First Nation wants ‘massive change’ after its 3rd police shooting in less than a year

Nuu-chah-nulth woman recovering from gunshot wounds in weekend incident near Ucluelet

RCMP (Phil McLachlan - Black Press Media)
High-risk takedown on Highway 1 following Shuswap shooting

Upon further investigation, the vehicle and its occupants were not associated with the shooting

Nurse Gurinder Rai, left, administers the Moderna COVID-19 vaccine to Maria Yule at a Fraser Health drive-thru vaccination site, in Coquitlam, B.C., on Wednesday, May 5, 2021. The site is open for vaccinations 11 hours per day to those who have pre-booked an appointment. THE CANADIAN PRESS/Darryl Dyck
COVID vaccine bookings to open for adults 40+, or 18+ in hotspots, across B.C.

Only people who have registered will get their alert to book

Dr. Victoria Lee, CEO of Fraser Health, hosts an update on efforts to contain B.C.’s COVID-19 transmission in Surrey and the Fraser Valley and protect hospitals in the Lower Mainland, May 6, 2021. (B.C. government video)
B.C.’s COVID-19 infection rate slowing, 20 more people die

Deaths include two people in their 40s, two in their 50s

Hanoi 36 owner Michael Vu hopes to open Weekends Restaurant & Lounge this summer in the former Chicken Direct location on Alexander Street. (Lachlan Labere-Salmon Arm Observer)
Business: Salmon Arm restaurateur working for the Weekends

Hanoi 36 owner Michael Vu to open new downtown izakaya-inspired restaurant

Kelowna RCMP are investigating a robbery that happened over the weekend.	(Phil McLachlan/Black Press Media file)
RCMP searching for suspect after armed robbery at Kelowna gas station

Police were unable to locate a man after he allegedly robbed a business on Highway 33 W

(Black Press Media file)
Mounties investigate downtown Kelowna group assault

Police said the incident happened at the Queensway bus loop on May 8

Most Read