British Columbia’s government celebrated the first anniversary of one of its cornerstone housing programs at the groundbreaking of a 179-unit rental building in North Vancouver, which it says went from concept to construction in 14 months.
Housing Minister Ravi Kahlon says approximately 1,400 homes are underway since the start of the BC Builds program with nearly 2,500 more in various stages of early development.
The $950 million multi-year program provides grants and loans for new rental developments and promises to speed up project timelines to get homes constructed.
North Vancouver Mayor Linda Buchanan says the support from BC Builds sped up her community’s plan “by years” and marks the largest investment in housing for everyday people the city has seen in a generation.
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The province spent $24.5 million on construction through a BC Builds grant, while the City of North Vancouver is contributing the land and $49.5 million to the project which will include a community services provider on the lower levels.
Earlier in the day, the government announced the beginning of construction on three rental housing developments through BC Builds that are expected to create a total of 236 new on-reserve rental homes with three First Nations.
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