Close X
Friday, November 22, 2024
ADVT 
National

B.C.'s government buys land for transit-oriented housing development

Darpan News Desk The Canadian Press, 08 Apr, 2024 04:51 PM
  • B.C.'s government buys land for transit-oriented housing development

British Columbia's government is spearheading a new public development project on Vancouver Island aimed at bringing more affordable homes closer to transit access.

Premier David Eby says the province has purchased two parcels of land for the Uptown development in Saanich, B.C., through the $394-million property acquisition fund operated by the Transportation Ministry. 

Eby says the plan is to build "hundreds" of new homes, retail and commercial capacity, on the site, along with possible amenities such as child care, public spaces and a transit hub. 

The development plan was announced after the province finalized the acquisition of two properties recently for a combined cost of $9.3 million, with the planning still in its early stages.

Eby says government got involved in the real estate development because of a "paradox" where people who use transit in B.C. are often priced out of homes close to those options.

He says the province will retain ownership of the land, while housing developed at the sites would be done as leaseholds or rentals, although the exact mix of housing has yet to be decided. 

"One of the pieces that we've really seen … is that the property values that immediately are adjacent to transit development go up in value," Eby says. "And when that land value goes up, the housing that's ultimately built on that site also ends up being more expensive.

"With government actually buying the land near transit hubs like this … we can shape development in a way that supports people who actually use transit actually being able to live close to the transit that they depend on."

No timeline for the development's construction or completion has been released.

MORE National ARTICLES

Marine LNG jetty project in Delta, B.C., gets environmental assessment certificate

Marine LNG jetty project in Delta, B.C., gets environmental assessment certificate
British Columbia's Environment Ministry says a marine jetty project in the city of Delta to facilitate liquefied natural gas exports has been issued an environmental assessment certificate. Environment Minister George Heyman and Transportation Minister Rob Fleming say they issued the approval after "carefully considering" the assessment of the project. 

Marine LNG jetty project in Delta, B.C., gets environmental assessment certificate

Arson in North Vancouver

Arson in North Vancouver
Police in North Vancouver say there were a pair of suspicious fires yesterday afternoon in the district's Norgate area.  North Vancouver Mounties say both fires happened in the 13-hundred-block of Sowden Street before 3 p-m, where fire crews found hedges on fire in front of two homes on the block. 

Arson in North Vancouver

Protection fund, bill of rights for renters coming; 'renters matter,' Trudeau says

Protection fund, bill of rights for renters coming; 'renters matter,' Trudeau says
The federal government wants to support those who rent their homes with a protection fund, a bill of rights and a plan to give reliable renters credit when they step up to buy a home. Prime Minister Justin Trudeau says there's something fundamentally unfair about paying $2,000 a month for rent, while those paying the same for a mortgage get equity and build their credit score. 

Protection fund, bill of rights for renters coming; 'renters matter,' Trudeau says

Measles cases in Canada are increasing, Canada's chief public health officer warns

Measles cases in Canada are increasing, Canada's chief public health officer warns
Canada's chief public health officer says the number of measles cases in the country continues to rise. Dr. Theresa Tam says in a statement the Public Health Agency of Canada is aware of 40 measles cases in Canada so far this year. 

Measles cases in Canada are increasing, Canada's chief public health officer warns

Jewelry theft at South Surrey mall

Jewelry theft at South Surrey mall
Police say they are investigating a break in and theft of jewelry from South Surrey mall. The R-C-M-P say officers responded to a report of a break-in at the shopping centre just after 4 A-M on Monday.   

Jewelry theft at South Surrey mall

Late night shooting in Cloverdale

Late night shooting in Cloverdale
Mounties in Surrey are looking looking for witnesses to a late night shooting in Cloverdale. They say officers responded to a report of shots fired around 10:45 P-M yesterday to find a man suffering from a gunshot wound. 

Late night shooting in Cloverdale