Government of Canada announces program to boost homebuilding innovation in B.C.
New Regional Homebuilding Innovation Initiative will advance innovation and resilience in the homebuilding sector
November 8, 2024 – Vancouver, B.C.
With vibrant communities, a strong economy, world class academic institutions and new business opportunities, British Columbia is growing quickly. This growth has significantly increased demand for housing, putting pressure on the local housing supply. In this changing environment, British Columbians need innovative approaches to homebuilding.
PacifiCan is one of several organizations working toward increasing the housing supply in British Columbia. Under Canada’s Housing Plan, the Government of Canada is taking action to address housing needs across the country.
Building tomorrow’s housing innovations, today
Today, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced a new initiative that will help expand homebuilding options in B.C. and foster industry innovation to better meet the demands of our growing province and changing climate. As British Columbians look for solutions to alleviate local housing pressures, the Regional Homebuilding Innovation Initiative will propel innovative homebuilding ideas.
Through the Regional Homebuilding Innovation Initiative, the Government of Canada will invest $50 million over two years, beginning in 2024, to support innovation in the home construction sector and its supply chain. In British Columbia, PacifiCan will deliver $7.1 million in funding through this initiative.
The Government of Canada’s investment will advance innovative homebuilding solutions and boost homebuilding efficiency in B.C. and across Canada. This includes projects that advance modular and prefabrication technologies and approaches for more resilient construction.
Organizations in B.C. can now visit PacifiCan’s webpage to learn more about this initiative.
This initiative, an important part of Canada’s Housing Plan, is helping to build tomorrow’s housing solutions today. The Government of Canada is committed to helping businesses innovate and increase productivity in the housing construction sector, creating opportunities to build the homes Canadians need now and into the future.