The Province of BC has launched BC Builds, a new initiative to deliver more rental homes available to middle income people who live and work in BC. Today, the development of new rental housing is impacted by inflation, the cost of land, the cost of construction, and high interest rates. This can make financing and building new rental housing challenging. As a result, too many rental homes are out of reach for middle-income earners. The people who keep our communities thriving are being forced to spend 50% or more of their household income on housing or risk being pushed out of communities altogether.

Drawing on the power of collaboration, BC Builds works in partnership with non-profits, local governments, First Nations, and the construction sector to identify available underused land, provide low-cost financing and funding, and quickly deliver projects that create more rental homes and help bring rents more in line with what middle income households earn. More than 20 initial BC Builds sites have been identified on government, non-profit and community owned land and BC Builds is seeking out new partners and landowners who want to build housing on underused land or above new community buildings. If you have access to land or want to partner on a future project, please reach out today at [email protected]

BC Builds is designed to deliver through these challenging market conditions to bring down building costs, get more projects off the ground, and build more rental homes that fit into middle-income household budgets. The program works by:

1. Identifying underutilized and low-cost land for development
2. Bringing together municipal landowners, non-profit, First Nations, community groups  and private developers
3. Speeding up development timelines
4. Providing low-interest financing and grants

Learn more: https://bcbuildshomes.ca