National

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

Darpan News Desk The Canadian Press, 15 Apr, 2021 08:39 PM

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."

Prev Next

MORE National ARTICLES

Trudeau condemns deadly attack at church in Nice

An attacker armed with a knife killed three people at a church in the Mediterranean city, French authorities said, prompting the country to raise its security alert status to the highest level.

Trudeau condemns deadly attack at church in Nice

Vancouver Police identifies city's 15th homicide victim

The VPD’s Major Crime Section is continuing to investigate Mr. Wanke’s murder. His remains were found in a large recycling bin in the water off of Kits Point on October 18.

Vancouver Police identifies city's 15th homicide victim

Conversion therapy ban approved in principle

O'Toole allowed his MPs a free vote on the issue, part of his bargain with social conservatives that helped him secure the Conservative leadership in August.

Conversion therapy ban approved in principle

Blair pledges to address prison isolation concerns

Prisoners transferred to the units are supposed to be allowed out of their cells for four hours each day, with two of those hours engaged in "meaningful human contact."

Blair pledges to address prison isolation concerns

Andrew Scheer not voting in U.S. election

In the 2016 presidential election, there were approximately 620,000 Americans in Canada who were eligible to cast ballots, though only around 32,000 did.

Andrew Scheer not voting in U.S. election

COVID-19 deaths hit racialized communities hardest: Stats Can

The report's authors say it is more evidence that the pandemic is disproportionately affecting visible minorities, who are more likely to live in overcrowded housing and work in jobs that put them more at risk of exposure to COVID-19.