Close X
Friday, November 1, 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

Canada welcomes Gaza ceasefire vote at United Nations Security Council: Joly

Canada welcomes Gaza ceasefire vote at United Nations Security Council: Joly
Canada welcomes the United Nations Security Council's call for a ceasefire in the war between Israel and Hamas during Muslim holy month of Ramadan, Foreign Affairs Minister Melanie Joly said Monday.  Canada has been asking for a sustainable ceasefire since December, she said at a press conference in Ottawa.

Canada welcomes Gaza ceasefire vote at United Nations Security Council: Joly

Group asks Vancouver for more time over Crab Park homeless site cleanup

Group asks Vancouver for more time over Crab Park homeless site cleanup
An advocacy group and others are making a final plea to the City of Vancouver to hold off on its second phase of a plan to clean up the site of a homeless camp in Crab Park. The group called Stop the Sweeps and residents of the encampment oppose the move, saying they're being offered small, fenced pens to live in while the city bulldozes their community, which includes a warming tent and kitchen.

Group asks Vancouver for more time over Crab Park homeless site cleanup

Man found dead in Surrey

Man found dead in Surrey
B-C's police watchdog says it is investigating the death of a man in Surrey.  The Independent Investigations Office says police responded to a report of threats being made in a domestic dispute yesterday. 

Man found dead in Surrey

Cyclist injured in crash

Cyclist injured in crash
West Shore Mounties say a cyclist was seriously injured after a crash involving a vehicle in View Royal. Police say officers responded to the scene yesterday around 4:45 P-M and found the 55-year-old cyclist with life-threatening injuries.   

Cyclist injured in crash

Global Affairs says two more Canadians have died in Ukraine-Russia war

Global Affairs says two more Canadians have died in Ukraine-Russia war
Global Affairs Canada says two more Canadians have died in the war between Ukraine and Russia, bringing the total number of Canadians killed in that conflict to 11. An obituary for Alain Derasp says the veteran of the Canadian Forces Royal 22nd Regiment and father of four died in Ukraine on Feb. 27.

Global Affairs says two more Canadians have died in Ukraine-Russia war

Bell CEO summoned to committee over job cuts after not finding time to appear

Bell CEO summoned to committee over job cuts after not finding time to appear
Members of Parliament have summoned the head of Bell Canada to testify next month about the company's decision to cut thousands of jobs across the country.  CEO Mirko Bibic was originally invited to appear before the Canadian Heritage committee on Feb. 29 and then March 19, but MPs say he has so far been unable to attend. 

Bell CEO summoned to committee over job cuts after not finding time to appear