BC Government Introduces Multibillion-Dollar Plan to Help Alleviate Housing Shortage

The British Columbia provincial government has introduced a multibillion-dollar plan to construct more homes as quickly as possible in the hopes of alleviating the current housing crisis, according to CKPGToday (4-3-23). Many of the homes will be built near public transportation and the government will launch a plan to use public land for construction of affordable homes.

The “Homes for People” (HFP) 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.

According to the report, the HFP 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 HFP proposal focuses on building more townhouses, 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.