Canada Pledges $2 Billion for B.C. Housing Initiative

The funding aims to construct thousands of homes for middle-income earners, complementing provincial efforts to address housing shortages.

The Canadian government commits $2 billion to finance the B.C. Builds program, aimed at constructing thousands of rental homes for middle-income earners on underused public land.
Prime Minister Justin Trudeau announced the funding alongside B.C. Premier David Eby and Vancouver Mayor Ken Sim, highlighting the initiative's ambition and practicality.
The federal funding complements $2 billion in low-cost provincial financing and $950 million in spending for the program, aiming to fast-track affordable rental developments.
The B.C. Builds program is expected to create an additional 8,000 to 10,000 new homes, addressing the urgent need for affordable housing in British Columbia.
The initiative is part of broader efforts to tackle Canada's housing shortages, with the federal government previously committing to creating 30,000 more purpose-built rental units.