BC government sets aside $1.8 billion to support 3,500 new affordable homes for Indigenous people

As of today, the provincial government’s “Building BC: Indigenous Housing Fund” is already supporting the construction of 1,500 new affordable homes for Indigenous people.

A new callout has now been issued inviting Indigenous housing operators, First Nations, and other Indigenous organizations to submit applications seeking funding to support their affordable housing proposals. This includes funding for housing projects both on and off reserve.

“In 2018, we became the first province in Canada to invest in First Nations’ housing on reserve, a federal jurisdiction,” said Ravi Kahlon, BC Minister of Housing, in a statement.

“With this latest call for proposals, we’re proud to be building on that work and partnering with the Indigenous housing sector to ensure Indigenous people everywhere in BC have access to the safe and affordable housing they need. This is one of the ways we are moving forward on reconciliation with Indigenous Peoples in BC.”

This particular fund is now supported by $1.8 billion in provincial funding, with the goal of catalyzing 3,500 new homes.

When the fund was first launched in 2018, the provincial government initially set aside $550 million over 10 years to build and operate 1,750 units. Early this year, the 2023 provincial budget added $1.3 billion to the program to further increase the targets.

Through the latest call for proposals, the provincial government is aiming to support 1,200 units, with the target of announcing the successful proponents by Summer 2024.

Fixed monthly rents, based on 2023 rates, for on-reserve projects within the Lower Mainland that are supported by the program are set at $770 or less for a one-bedroom unit, $895 for a two-bedroom unit, $980 for a three-bedroom unit, and $1,060 for a four bedroom or larger unit.

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