Nearly 2,000 new affordable homes are on the way for renters in Metro Vancouver, through partnerships between the Province and local non-profit housing providers.

“Everyone deserves a decent home they can actually afford,” said Premier David Eby. “That’s why we’re taking unprecedented actions to rapidly build more affordable housing throughout the province, including through the Community Housing Fund. This latest round of funding will bring much-needed homes to every region of our province – from our fastest-growing cities to rural and remote areas – helping everyone find a decent home in the community they love.”

A total of 17 new projects in Metro Vancouver have been selected through the third intake of the Building BC: Community Housing Fund (CHF). The proposed projects will provide a total of 1,954 affordable rental homes for individuals, families, seniors, people living with disabilities and Indigenous people in B.C.

“Through our Homes for People action plan, we are taking action to deliver affordable housing faster, and the Community Housing Fund is a key part of the plan,” said Ravi Kahlon, Minister of Housing. “These new homes mean that more people in B.C. will benefit from affordable homes in the communities they love, where they can grow their families and age in place.”

The announcement took place at 7567-140 St. in Surrey, the future site of an affordable housing project that will be operated by Kekinow Native Housing Society. Expected to be completed in late spring 2024, the project previously received CHF funding for Phase 2 of the development to build more than 100 homes for Indigenous people. The society will be receiving CHF funding for another project as one of the successful proponents from the CHF call for proposals issued in fall 2023.

“On behalf of the Kekinow board of directors, we would like to thank Premier Eby and BC Housing for supporting our work to provide safe and affordable housing to Indigenous people in Surrey,” said Rupinder Cheema, CEO, Kekinow Native Housing Society. “This project will add 62 affordable housing units to help reduce the gap between demand and supply. The project approval by the Province is a step forward to help with social determinant of wellness.”

Including these projects, the Province, through BC Housing, has identified more than 40 new projects to move forward, totalling approximately 3,500 affordable rental homes. Additional projects on Vancouver Island, in the Interior and North will be announced later this week. This brings the total to 12,500 affordable rental homes that are already open or underway through the CHF program since its launch in 2018.

“The Kekinow Native Housing Society provides a safe place to raise our children, where we feel safe and supported,” said Philip Gladue, a renter in Surrey. “As a community, we continue to work with Kekinow to help them in their ongoing support for the Indigenous community and welcome this new project.”

The Community Housing Fund is part of a $19-billion housing investment by the B.C. government. Since 2017, the Province has nearly 78,000 homes that have been delivered or are underway.

Quotes:

Rachna Singh, MLA for Surrey-Green Timbers —

“People in the region, including Surrey, who are struggling to find homes that meet their needs will have more affordable housing options with these new homes on the way. This is made possible by our partnerships with local non-profit organizations as we collectively address the housing affordability crisis we are facing. I look forward to seeing the positive impacts these homes will bring to the people and the community in the years to come.”

Jill Atkey, CEO, BC Non-Profit Housing Association —

“The rental housing crisis touches every corner of British Columbia, and we’re thrilled to see that non-profits in Metro Vancouver will soon be constructing more than 1,900 new affordable rental homes. These homes are critical for British Columbians experiencing affordability challenges today, but importantly, they will also be home to thousands more in the generations to come. But our work is not done, and we will continue to push every government to increase investment into safe, secure and affordable housing.”

Quick Facts:

• The CHF is a $3.3-billion investment that targets to build more than 20,000 affordable rental homes for people with moderate- and low-income households by 2031-32.
• BC Housing is supporting non-profit housing providers to prepare for future CHF funding calls, with the next call expected in late 2024 or early 2025.
• Under the CHF program, residents of 70% of the units pay rent geared to income, where rent is generally based on 30% of household income.
  • This includes 20% of units for residents with very low incomes, such as those receiving income or disability assistance.
• The remaining 30% of units are available at or below market rents for households with moderate incomes.

Learn More:

To learn more about government’s new Homes for People action plan, visit: https://news.gov.bc.ca/releases/2023HOUS0019-000436

To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit https://strongerbc.gov.bc.ca/housing/

A backgrounder follows.