BC Unveils New Strategy To Speed Up Home Construction

The Province has unveiled its new housing plan, which it says will speed up delivery of new homes, increase the supply of middle-income housing, fight speculation and help those who need it the most.

“B.C.’s housing crisis is stressing out and hurting people while it holds back our economy,” said Premier David Eby, in a news release.

“As a first step in my 100-day plan, we are making changes to deliver more homes for British Columbians, faster. We will work with municipalities to set housing targets and make sure the homes people need get built. For those searching for a home today, there's good news. We're making it possible for thousands of condos that are vacant to be rented out as soon as these new laws pass. For those worried about the future, we're setting out a new way to co-ordinate the efforts of our cities and the Province to build the homes people need quickly.”

The Homes for People plan will deliver more homes people need in a shorter timeframe and build more vibrant communities throughout B.C.

The plan is focused on four priorities: unlocking more homes faster; delivering better, more affordable homes; helping those with the greatest housing need; and creating a housing market for people, not speculators.

Some of the aspects of the plan include:

- delivering more middle-income small-scale, multi-unit housing that people can afford, including town homes, duplexes and triplexes through zoning changes and proactive partnerships.

- offering forgivable loans for homeowners to build and rent secondary suites below market rates.

- building thousands more affordable homes for renters, Indigenous Peoples on and off reserve, women and children leaving violence, and building thousands more on-campus student housing units.

The province says the plan unlocks more homes by creating the conditions to encourage faster housing construction and reduce development costs, including changes in regulations and zoning, less red tape, more incentives, and a focus on targeted types of housing.