Close X
Tuesday, November 26, 2024
ADVT 
National

B.C. reveals pricey plan to slow housing crisis

Darpan News Desk The Canadian Press, 03 Apr, 2023 12:58 PM
  • B.C. reveals pricey plan to slow housing crisis

VICTORIA - The British Columbia government has introduced a multibillion-dollar plan to construct more homes as quickly as possible in an attempt to build its way out of the housing crisis.

The so-called Homes for People plan starts with a $4-billion investment over three years and commits to $12 billion over a decade with incentives to build, laws to curb speculation and financial help for renters and homeowners.

This is in addition to the plan the NDP government introduced in 2018, that it says has built more than 74,000 homes towards a promise of 114,000 units over a decade.

The latest proposal focuses on building more townhomes, duplexes and triplexes through zoning changes, offering forgivable loans for homeowners to build and rent secondary suites at below market rates, and constructing thousands of homes for renters, Indigenous Peoples and students.

More homes will be built near public transit and the government will launch a plan to use public land for construction of affordable homes.

The government says it will bring in a flipping tax to discourage speculation, beef up enforcement of short-term rentals, and streamline and modernize the permit process to cut costs and speed up approvals.

“Actions in the plan also aim to build a housing market that puts people ahead of profit with measures to crack down on speculators and profiteers and get the proceeds of crime out of the real estate market,” the government says in a news release.

Reducing homelessness is a key part of the plan, with a proposal to add 3,900 new supportive housing units and 240 complex care spaces.

It will also include teams designed to quickly respond to encampments and support those who are living outdoors.

Some municipalities in B.C. still don't allow secondary suites, but the government says that will change.

"Starting later this year, legislation will be introduced to make secondary suites allowed in every community in the province. In addition, in early 2024, homeowners will be able to access a forgivable loan of 50 per cent of the cost of renovations, up to a maximum of $40,000 over five years," the government says.

 

MORE National ARTICLES

Brace for familiar Canada-U.S. trade anxiety

Brace for familiar Canada-U.S. trade anxiety
The U.S. remains unhappy with how Canada has allocated the quotas that give American dairy producers access to markets north of the border. Canada and Mexico both took issue with how the U.S. defined foreign auto content. And Canada and the U.S. oppose Mexico favouring state-owned energy providers.    

Brace for familiar Canada-U.S. trade anxiety

Park board has tips to 'respect' Vancouver coyotes

Park board has tips to 'respect' Vancouver coyotes
Coyotes are found across Vancouver and prefer sheltered, wooded areas to raise their families, so the board says it will occasionally close trails in high-traffic locations like Stanley Park where they are known to frequent.

Park board has tips to 'respect' Vancouver coyotes

Climate group urges 'made-in-Canada' response

Climate group urges 'made-in-Canada' response
The institute says the federal government shouldn't try to match the incentives and subsidies offered by the U.S. and instead tailor its measures for Canada. Finance Minister Chrystia Freeland has signalled the March 28 budget will include ways to keep Canada competitive as countries transition their economies to cleaner energy and technologies.    

Climate group urges 'made-in-Canada' response

Federal minimum wage rising to $16.65 per hour

Federal minimum wage rising to $16.65 per hour
The federal minimum wage is rising to $16.65 per hour on April 1, up from $15.55. Ottawa set a federal minimum wage of $15 per hour in 2021 and increases it each year based on inflation. The changes are made every year on April 1.

Federal minimum wage rising to $16.65 per hour

Canada's passport backlog 'completely eliminated'

Canada's passport backlog 'completely eliminated'
She also announced that Ottawa is launching a new digital tool that will allow Canadians to check the status of their Service Canada application online, as long as they provide an email address.

Canada's passport backlog 'completely eliminated'

B.C. pharmacist suspended for faked vaccine

B.C. pharmacist suspended for faked vaccine
The College of Pharmacists of BC says on a post on its website that its inquiry committee has suspended Aftabahmed Shaikh for 30 days and placed a permanent letter of reprimand on his file. The college says its inquiry also found that Shaikh altered the pharmacy's software to make his records more difficult to find.

B.C. pharmacist suspended for faked vaccine