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

Left: Smoke billowing 20,000 feet above Hiroshima while smoke from the burst of the first atomic bomb had spread over 10,000 feet on the target at the base of the rising column. Right: Atomic bombing of Nagasaki on August 9, 1945, taken by Charles Levy from one of the B-29 Superfortreses used in the attack. (Photo via Wikipedia Commons)
TAYLOR: Visualizing invisible dangers

Kelowna Art Gallery exhibit BOMBHEAD reminds of the dangers of nuclear destruction and radiation

Oliver Stankiewicz, pictured with his parents David and Laura, will run 100 kilometres Sunday, May 9, in support of the McMurtry-Baerg Cancer Centre at VJH. (Contributed)
Man on the move for Mother’s Day in Vernon

Virtual run supporting McMurtry-Baerg Cancer Centre at VJH

(Kingfisher Boats photo)
In the market for a boat in the North Okanagan? Be prepared to wait

Vernon’s Kingfisher Boats is out of 2021 models, with many 2022 models already pre-sold

A woman wears a face mask and shield to curb the spread of COVID-19 while walking in North Vancouver, B.C., on Wednesday, January 6, 2021. THE CANADIAN PRESS/Darryl Dyck
57 new cases of COVID-19 in Interior Health region

Thirty people in the region are in hospital, 16 of whom are in intensive care

A hummingbird gives its wings a rare rest while feeding in a North Okanagan garden. (Karen Siemens/North Okanagan Naturalists Club)
Hummingbirds back for another Okanagan season

North America’s littlest birds return, and they’re hungry

Jose Marchand prepares Pfizer COVID-19 vaccination doses at a mobile clinic for members of First Nations and their partners, in Montreal, Friday, April 30, 2021. The National Advisory Committee on Immunization is coming under fire after contradicting the advice Canadians have been receiving for weeks to take the first vaccine against COVID-19 that they’re offered. THE CANADIAN PRESS/Ryan Remiorz
Trudeau says he is glad he got AstraZeneca, vaccines are only way out of pandemic

‘The most important thing is to get vaccinated with the first vaccine offered to you’

B.C.’s provincial health officer, Dr. Bonnie Henry. THE CANADIAN PRESS/Jonathan Hayward
Dip in COVID-19 cases with 572 newly announced in B.C.

No new deaths have been reported but hospitalized patients are up to 481, with 161 being treated in intensive care

Solar panels on a parking garage at the University of B.C. will be used to separate water into oxygen and hydrogen, the latter captured to supply a vehicle filling station. (UBC video)
UBC parkade project to use solar energy for hydrogen vehicles

Demonstration project gets $5.6M in low-carbon fuel credits

FILE – A student arrives at school as teachers dressed in red participate in a solidarity march to raise awareness about cases of COVID-19 at Ecole Woodward Hill Elementary School, in Surrey, B.C., on Tuesday, February 23, 2021. THE CANADIAN PRESS/Darryl Dyck
B.C. ‘should be able to’ offer 1st dose of COVID vaccine to kids 12+ by end of June: Henry

Health Canada authorized the vaccine for younger teens this morning

A woman in the Harrison Mills area was attacked by a cougar on Tuesday, May 4. B.C. Conservation Officers killed two male cougars in the area; the attack was determined to be predatory in nature. (File photo)
2 cougars killed following attack on woman in Agassiz area

Attack victim remains in hospital in stable condition

A woman wears a face mask and shield to curb the spread of COVID-19 while walking in North Vancouver, B.C., on Wednesday, January 6, 2021. THE CANADIAN PRESS/Darryl Dyck
B.C. CDC updates info, acknowledging small respiratory droplets can spread COVID-19

Large droplets, not aerosols had been fixture of public health messaging for many months

George Ryga, considered by many as Canada’s most important English playwright lived in Summerland from 1963 until his death in 1987. He is the inspiration for the annual Ryga Arts Festival. (Contributed)
Summerland archive established for George Ryga

Renowned author wrote novels, poetry, stage plays and screen plays from Summerland home

Grizzly bear. (File)
Malakwa man bitten by grizzly bear on dog walk

The man and dogs were not seriously injured

Most Read