The federal government is providing more than $574 million in financing to help build about 950 rental homes in Vancouver. The government says in a news release that a project on 42nd Avenue is one of four locations receiving funds through the Apartment Loan Construction Program, which offers repayable low-interest loans to encourage more rentals builds for middle-class Canadians.
Environment Canada has issued a winter storm watch for the South Klondike Highway from Carcross to White Pass. It says that is due to a frontal system moving across the area today.
Invest Vancouver — Metro Vancouver's regional economic development service — has released a new report that it says shows "how foreign direct investment is a powerful driver of employment and economic growth in B-C." The report says in 2022 that foreign multinational enterprises employed more than 349-thousand people in B-C, which marked a 46.3 per cent increase when compared to 2016.
The RCMP will begin its rollout of body-worn cameras for RCMP officers across the country next week. It expects deployment of more than 10,000 cameras to be finished in the next 12 to 18 months.
Prime Minister Justin Trudeau is on his way to South America this afternoon heading first to Lima, Peru for the APEC summit and then to the G20 summit in Rio de Janeiro, Brazil. Both summits aim to improve the multilateral institutions that have drawn skepticism from U.S. president-elect Donald Trump.
The rate at which Canadian rental prices are increasing should slow in the coming years as the government's plan to cut back immigration numbers takes hold, a new report from Desjardins says. Rents have been rising fast and rent inflation is "much higher" than increases in the price of owned homes, it said. Inflation of rented accommodation was 8.3 per cent in the third quarter of this year, "the fastest pace since the early 1980s."