Media Contacts

Ministry of Housing

Media Relations
236 478-0251

BC Housing

Media Relations
media@bchousing.org

Backgrounders

About BC Builds and new on-reserve homes

BC Builds is a program delivered by the Province through BC Housing. It leverages government, community, and non-profit-owned and under-used land, along with low-cost financing and grants, to lower construction costs, speed up timelines, and deliver affordable rental homes for people who live and work in B.C.

By leveraging under-used land and repayable loans for builders at rates better than banks, which are all paid back to government with interest, BC Builds is designed to overcome challenging market conditions and deliver lower-cost rental homes for people in communities throughout B.C.

The program also provides grants to ensure greater affordability, and works with municipalities, landowners, residential builders and housing operators to move projects from concept to construction within 12 to 18 months, compared to the current average of three to five years.

Once complete, BC Builds homes have a target of middle-income households spending no more than 30% of their income on rent. Additionally, at least 20% of units will have rents that are at least 20% below market rate for projects in partnership with non-profits and First Nations.

Funding for the three new projects includes contributions from the Province, through BC Builds at BC Housing, and equity by the respective First Nation.

  • Cowichan Tribes:
    • BC Builds grant: $38 million
    • BC Builds financing: approximately $36 million
    • Cowichan Tribes: $2 million equity
  • Lake Babine Nation:
    • BC Builds grant: approximately $1.8 million
    • Lake Babine Nation: approximately $5.2 million equity
  • Tsawout First Nation:
    • BC Builds grant: $3.6 million
    • BC Builds financing: approximately $2.9 million
    • Tsawout First Nation: approximately $4.7 million equity