Thursday, May 6, 2021
ADVT 
National

B.C. puts $2B in affordable housing loan program

Darpan News Desk The Canadian Press, 16 Apr, 2021
  • B.C. puts $2B in affordable housing loan program

The B.C. government says it's investing $2 billion in a low-interest loan program for builders of affordable housing.

Housing Minister David Eby says the financing will be provided to private developers and community groups through the province's HousingHub program, a division of BC Housing.

The housing will target projects for renters and buyers with average household incomes of $75,000.

Eby says the loans will be provided at below-market rates and in return, developers will commit to passing the construction savings on to residents through more affordable rents and housing prices.

He says the loans will be repaid once construction is complete, allowing HousingHub to reinvest in more units.

Finance Minister Selina Robinson says the funding is part of Budget 2021, which will be unveiled in full next week.

"For far too long, housing in British Columbia was viewed as a commodity and a tool for building wealth, rather than a basic necessity of a home," said Robinson, who was the housing minister before taking on the finance portfolio.

"The simple truth is, affordable housing is life changing."

MORE National ARTICLES

Deal reached to finance Montreal airport rail link

Deal reached to finance Montreal airport rail link

The project was in jeopardy after the airport authority, which was supposed to finance the station, lost hundreds of millions of dollars in revenues after the COVID-19 pandemic crippled the airline industry.

Deal reached to finance Montreal airport rail link

Canada turns focus to buying COVID-19 boosters

Canada turns focus to buying COVID-19 boosters

Canada expects to get every adult vaccinated fully — with both doses of the Pfizer-BioNTech, Moderna or Oxford-AstraZeneca vaccines or one shot of the single-dose Johnson & Johnson — by the end of September at the latest.

Canada turns focus to buying COVID-19 boosters

Charities hope budget lends them a helping hand

Charities hope budget lends them a helping hand

Imagine Canada, a charity that promotes the work of the sector, said groups have on average seen just over two-fifths of their earnings disappear due to the pandemic.

Charities hope budget lends them a helping hand

Air Canada aid package 'bittersweet': WestJet CEO

Air Canada aid package 'bittersweet': WestJet CEO

Finance Minister Chrystia Freeland said Monday that talks continue with Canadian airlines, including WestJet.

Air Canada aid package 'bittersweet': WestJet CEO

NDP MP proposes decriminalizing drug use

NDP MP proposes decriminalizing drug use

MP Don Davies introduced a private member's bill today that would scrap Criminal Code provisions on drug possession, expunge criminal records for the same offence and mandate low-barrier access to a safe supply of medically regulated substances.

NDP MP proposes decriminalizing drug use

Vancouver Aquarium has been sold to US tourism operator, Herschend Enterprises

Vancouver Aquarium has been sold to US tourism operator, Herschend Enterprises

The agreement ensures that Vancouver will continue to have a world-class aquarium with the financial strength to continue building on its 64-years of success as an animal care and animal rescue facility, a cherished educational venue, and one of BC’s top tourist and event destinations.

Vancouver Aquarium has been sold to US tourism operator, Herschend Enterprises

PrevNext