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B.C. funds 2,000 new affordable homes for renters in Metro Vancouver

SURREY — Seventeen new housing projects are set to add nearly 2,000 new affordable homes for renters in Metro Vancouver through British Columbia’s community housing fund.

Premier David Eby made the announcement at a construction site in Surrey, B.C., on Tuesday, saying the latest intake of the Building BC Community Housing Fund will bring new homes to every region in the province.

The premier says the projects in Metro Vancouver range from town houses to multi-unit developments, providing homes for families, seniors, former youth in care and women fleeing violence. 

Jill Atkey, the CEO of the BC Non-Profit Housing Association, says the rental housing crisis touches every corner of the province and the latest 1,954 units will provide homes for thousands of people for generations to come. 

The housing fund was established in 2018 with a target of providing more than 20,000 affordable rental homes by 2032 for those with moderate and low incomes. 

More than 40 new projects have been approved so far, and officials say additional developments will be announced later this week on Vancouver Island, in the Interior and northern B.C.

This report by The Canadian Press was first published Mar. 19, 2024. 

The Canadian Press

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