VANCOUVER — The British Columbia government is funding 4,900 new affordable rental units to be built in the next three years as part of its efforts to tackle a housing crisis across the province.
The government says in a statement that the units will include both non-profit and co-operative housing and are designed to address affordable housing needs across a range of income levels in 42 communities.
The buildings will contain a mix of units for middle-income people and families, heavily subsidized rentals for seniors and others on fixed incomes and homes for low-wage workers.
This is the first set of housing projects selected through the B.C. government's $1.9-billion Building BC: Community Housing Fund.
The fund is part of the government's commitment to build more than 14,000 affordable rental homes over 10 years.
The province selected these projects based on criteria that includes the types of clients and the impact the project is expected to have in reducing the community's affordable rental housing need.