Premier announces largest single affordable housing investment for B.C.

By The Canadian Press
February 12, 2016 - 10:46am Updated: February 12, 2016 - 1:15pm

VANCOUVER — British Columbia has committed $355 million toward creating as many as 2,000 new affordable housing units across the province.

Premier Christy Clark and Housing Minister Rich Coleman made the announcement in Vancouver.

Clark says the funding will be spent over the next five years and is the largest single affordable housing investment in B.C.’s history.

The province says it has earmarked $50 million of the investment for each of the first two years, $75 million in the third year and $90 million in the final two years.

Details are still being worked out, and B.C. Housing says it will seek proposals from municipalities, non-profit societies and other community groups interested in creating appropriate developments.

Lack of affordable housing has been a hot topic especially in Metro Vancouver, where the price of a home is beyond the reach of even high income earners.

The Canadian Press

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