BC government announces half a billion dollars in affordable housing

BC Premier Christy Clark has announced the province is investing $516 million in 68 affordable housing projects.

In a release issued Tuesday, Clark said the projects would build 2,897 new housing units, 1299 of which will be in Metro Vancouver:

• Burnaby – 3 projects / 202 units
• Richmond – 1 projects / 160 units
• Surrey – 5 projects / 326 units
• Vancouver – 10 projects / 611 units

The new housing projects are aimed at low- to moderate-income renters, seniors, youth, adults with developmental disabilities, Aboriginal people and women and children.

With an election only a few months away, Clark said her government was working hard to build “Canada’s leading economy” to enable projects like this.

“It gives us the ability to make significant investments, put British Columbians first, and take immediate action to increase the rental supply in communities throughout BC,” she said.

In Vancouver, the majority of the projects appear to be in the Downtown Eastside, with two others near West Georgia and Hornby, and one more at Scotia and 5th.

They would provide 64 units of affordable housing. For more details of all the affordable housing projects, click on the pinpoints in this map:

Mayor welcomes investment

In an email statement to Daily Hive on Tuesday afternoon, Vancouver Mayor Gregor Robertson said he welcomed the province’s investment in the city.

“The housing market is particularly tough for residents on low and middle incomes with housing prices disconnected from working wages in Metro Vancouver,” said Robertson.

“This investment will help deepen rental affordability for residents struggling to find a safe and affordable place to live.”

Robertson said he would be building on his strong partnership with BC Housing to make sure the projects are finished as soon as possible.