Home Business & Economy Housing $2 billion federal backing for BC Builds

$2 billion federal backing for BC Builds

Trudeau in Vancouver to make the announcement

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City of Vancouver Mayor Ken Sim at the podium, with Prime Minister Justin Trudeau and BC Premier David Eby, at the federal announcement of funding support for BC Builds, Feb 20, 2024. [X]
BC 2024 Provincial Election news analysis

Tuesday February 20, 2024 | VANCOUVER, BC

by Mary P Brooke | Island Social Trends


Prime Minister Justin Trudeau was in Vancouver this morning to announce a $2 billion federal contribution to the new BC Builds housing acceleration program. That matches BC’s initial $2 billion investment.

The BC Builds program works in partnerships to produce middle-income rental apartment buildings on public land, aiming to do so in 12 to 18 months construction time instead of the traditional three to five-year time frame.

In addition to the three BC Builds projects announced last week, today Eby announced a fourth project of 112 units in Yaletown on City of Vancouver municipal land.

Vancouver Mayor Ken Sim said in social media: “Happy to be joined by Prime Minister Justin Trudeau and Premier David Eby for today’s exciting #BCBuilds announcement. $2 billion from the Government of Canada means more homes for middle-income workers in our city. Together, we’re tackling the housing crisis and building a brighter future for all!”

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Island Social Trends reports news with socioeconomic insights and analysis. Independent news service on south Vancouver Island, BC.

===== RELATED:

BC describes BC Builds rental construction program as non-traditional (February 19, 2024)

Province launches BC Builds to address lower-cost middle-income rental homes (February 13, 2024)