New affordable homes coming soon for families, seniors in Cranbrook
The B.C. government is working in partnership to build 114,000 affordable homes that cover the full spectrum of housing needs for British Columbians by 2028.
Budget 2018 included a $7-billion investment in the homes people need. As a result of that investment, more than 20,000 new homes are complete, under construction or in the approvals process for a range of people who are struggling to find a place to live, from people experiencing homelessness and seniors on fixed incomes, to middle-income families, students and individuals. As of the end of April 2019, this includes:
Housing for middle-income earners (households with annual incomes between $50,000 and $150,000) – approximately 2,460 homes:
- Building BC: Community Housing Fund: approximately 1,500 rental homes for people with middle incomes.
- HousingHub: 960 homes.
Housing for people with low to moderate incomes (including some where rents are based on 30% of household income and others with set rents, which are designed to be affordable; to moderate-income households, in most cases earning less that $70,000 annually) – approximately 9,200 homes:
- Building BC: Community Housing Fund: approximately 3,700 rental homes for people with low to moderate incomes.
- Affordable Rental Housing Program: nearly 1,600 homes for low to moderate incomes.
- Deepening Affordability Fund: more than 2,100 homes for low to moderate incomes.
- Building BC: Indigenous Housing Fund: more than 1,150 homes for Indigenous peoples, on- and off-reserve.
- Regional Housing First Program: more than 600 homes for people with low to moderate incomes.
Housing for people experiencing or at risk of homelessness (shelter-rate housing) – approximately 2,800 homes:
- Rapid Response to Homelessness: more than 2,000 homes with 24/7 supports.
- Building BC: Supportive Housing Fund: more than 550 homes with 24/7 supports.
- Regional Housing First Program: more than 170 homes for those ready to live independently with supports.
Housing for women and children leaving violence – approximately 340 homes:
- Building BC: Women’s Transition Housing Fund: approximately 340 spaces of transition, second-stage and affordable rental housing for women and children leaving violence.
Housing for students – approximately 5,600 homes:
- BC Student Housing Loan Program: approximately 2,700 on-campus student housing units are underway or in the approvals process.
- Close to 2,900 student housing units are also underway or in development through partnerships with post-secondary institutions.
Total: approximately 20,400 homes
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