New affordable homes coming soon for families, seniors in Cranbrook

June 25, 2019 at 12:02 pm  BC, News, Politics

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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