Province welcomes federal investment in housing
British Columbia News
Province welcomes federal investment in housing
Tuesday, August 6, 2019 1:30 PM
Every Canadian deserves a safe and affordable place to call home. That is why the Government of Canada launched Canada’s very first National Housing Strategy, a once-in-a-generation investment to fight homelessness and improve access to affordable housing for Canadians and signed a new memorandum of intent (MOI) with the British Columbia government.
Today, the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), and Spencer Chandra Herbert, MLA for Vancouver-West End, on behalf of the Honourable Selina Robinson, British Columbia’s Minister of Municipal Affairs and Housing, announced a $75 million investment through the National Housing Strategy to support construction of 1,500 units of affordable housing across the province.
The MOI, signed by CMHC and BC Housing, outlines a five-year federal government investment that will help build 1,000 new units planned under the province’s Building BC: Supportive Housing Fund, and 500 new units planned under the Building BC: Women’s Transition Housing Fund.
The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation –
“Every Canadian deserves a safe and affordable place to call home. Today’s announcement is the next step in our historic investments in British Columbia housing. 1,500 more families will be able to have a brighter future thanks to these investments.”
Spencer Chandra Herbert, MLA for Vancouver-West End –
“We welcome this investment from the federal government that will help us ensure that more British Columbians in need find safe and secure homes. This new funding will complement the significant investments our government has been rolling out under the 10-year Homes for BC plan, including building more homes to help people experiencing homelessness and women and children leaving violence. We will continue to work with all levels of government and community partners to build homes that people need.”
- Women with children face unique barriers to housing, are more likely to have low incomes, engage in part-time work, take on more caregiving responsibilities, and may be dependent on a partner for income. This new memorandum of intent is another step in ensuring that at least 33% of investments under the National Housing Strategy support the needs of women and their children.
- The Government of Canada is currently rolling out its National Housing Strategy (NHS), an ambitious 10-year, $55 billion plan that will create 100,000 new housing units and lift 530,000 families out of housing need, as well as repair and renew more than 300,000 housing units and reduce chronic homelessness by 50 percent.
- With a budget of $13.2 billion, National Housing Co-Investment Fund gives priority to projects that help those in greatest need, including women and children fleeing family violence, seniors, Indigenous Peoples, people with disabilities, those dealing with mental health and addictions, Veterans and young adults.
- Through the NHCF, the Government of Canada will work with partners to build up to 60,000 new affordable homes and repair up to 240,000 existing affordable and community homes over the next 10 years.
- Under the Investing in Canada plan, the Government of Canada is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada’s rural and northern communities.
- In total, BC Housing will invest $1.2 billion through the Province’s Supportive Housing Fund to build and operate up to 2,500 units of supportive housing for those who are experiencing, or at risk of, homelessness, and another $734 million through the Women’s Transition Housing Fund to build and operate up to 1,500 new units serving women and children at risk of experiencing violence.
- To address the issue of housing affordability for British Columbians, the Government of B.C. is curbing speculation in the province’s housing market and building 114,000 affordable market rental, non-profit, supported social housing and owner-purchase housing through partnerships.
- Budget 2018 launched the most significant investment in housing affordability in B.C. history – more than $7 billion over 10 years. As a result of that investment, in less than two years, more than 21,000 new homes are completed, under construction or in the approvals process in communities throughout B.C.
- As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that by 2030, everyone in Canada has a home they can afford, and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
- To find out more about the National Housing Strategy, visit www.placetocallhome.ca
- To find out what the province is doing to improve housing affordability, visit: https://news.gov.bc.ca/factsheets/bc-government-addressing-housing-affordability-challenges
- A map showing the location of all announced provincially-funded housing projects in B.C. is now available online at: https://www.bchousing.org/homes-for-BC
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