On March 28, the Deputy Premier and the Minister Responsible for Housing, Rich Coleman, released documents that show there has been extensive work done to secure new and innovative housing at New Jubilee House and also at 292 East Hastings Street developments. The documents confirm the projects were negotiated in a fair and above-board manner.
The Province enters into partnerships with non-profit service providers and private developers to increase and preserve housing for people who are homeless or are at risk of homelessness. By working together with the sector and other levels of government, the Province is able to construct more new, low-income housing than it would without these partnerships.
The Province’s leadership to create affordable housing has created thousands of new affordable housing units for British Columbians in recent years. Through innovation and partnerships the B.C. government is making positive steps forward and improving housing for people who need it most.
Only when there is a strategic advantage to the Province does BC Housing enter into partnerships with developers. In both the case of New Jubilee House and 292 East Hastings, BC Housing was diligent and transparent about its involvement, including the provision of low interest construction financing for both projects. As a result, 334 new units of housing were created at the two sites.
For additional information about these two projects, please go to: https://news.gov.bc.ca/factsheets/development-projects-recently-in-the-media
To view the technical briefing PowerPoint presentation, click here: https://www.bchousing.org/publications/New_Jubilee_House_Media_Presentation.pdf
and here: https://www.bchousing.org/publications/Hastings_and_Gore_Media_Presentation.pdf
To learn more about the Province's actions on housing affordability, visit: http://housingaffordability.gov.bc.ca/