(Guilhem Vellut/Wikimedia Commons)

(Guilhem Vellut/Wikimedia Commons)

$1.8B a year to reverse affordable housing crisis

The funding will be use to increase the housing supply province-wide

The BC Rental Housing Coalition has released a proposal to fix the affordable housing crisis in the province, bringing municipalities and not-for-profits into the funding plan.

Created by the BC Non-Profit Housing Association, Co-operative Housing Federation of BC and LandlordBC, the Affordable Housing Plan for BC estimates that $1.8 billion per year for 10 years would increase the rental housing supply, close the affordability gap and address chronic homelessness across the province.

“The cost of inaction is much more expensive than action,” said Kishone Roy, CEO of the BC Non-Profit Housing Association.

“The problem is very much solvable,” said David Hutniak, CEO of LandlordBC.

In addition to the $691 million over the 10 years the federal and provincial governments would invest, the report proposes that community groups, municipalities, and non-profits would fund the leftover $461 million through land contributions, leveraging equity from assets, private donations and financing.

In February, the Metro Vancouver task force on homelessness released 12 recommendations, again calling on the provincial and federal governments to create and fund a provincial poverty reduction plan.

The $1.8 billion in funding would be used to create about 80,000 new units, or about $7,000 each year – the estimated number of backlogged rental spaces, according to the report.

At least 3,500 of the new units that need to be built in B.C. must be affordable housing, according to Roy.

The funds would also provide a boost to income assistance to address the affordability gap – the difference between what renters pay for shelter and what they can afford.

According to the report, 117,000 renter households required some form of income assistance for rental payments last year.

Photo use details can be seen here.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Lake Cowichan’s Oliver Finlayson, second from left, and his family — including grandma Marnie Mattice, sister Avery, mom Amie Mattice and dad Blair Finlayson — were all smiles on Nov. 16 when their pool arrived, thanks to lots of fundraising and the generosity of the Cowichan Lake community. (Kevin Rothbauer/Citizen)
Cowichan Lake community comes together to help family get vital pool

Oliver Finlayson, 9, has Duchenne muscular dystrophy and hydrotherapy is a big help

The Little Corner Sandwich Shop in Cobble Hill is opening a second location in Duncan in January. Pictured are owners Clayton Frost and Chris Jameson at the Cobble Hill location. (Submitted photo)
Business notes: Little Corner Sandwich Shop coming to Duncan

Cobble Hill business expanding woth second location

No face-offs until at least Dec. 8 after the BCHL shuts down pre-sesason play. (Citizen file)
Cowichan Capitals’ exhibition season cut short

BCHL cancels remainder of the pre-season

Gracie couldn’t stop nursing from her previous owner’s goats which was problematic given the goats were trying to be dried out to breed. Gracie now lives at A Home for Hooves. (Sarah Simpson/Citizen)
Cowichan animal sanctuary gets international accreditation

A Home for Hooves farm sanctuary accredited by the Global Federation of Animal Sanctuaries

B.C. Health Minister Adrian Dix and provincial health officer Dr. Bonnie Henry update the COVID-19 situation at the B.C. legislature, Nov. 23, 2020. (B.C. government)
B.C. sets another COVID-19 record with 887 new cases

Another 13 deaths, ties the highest three days ago

After twice have their wedding plans altered due to COVID-19 restrictions, Suzanne Schmidt and Andrew Sturgess got married in Bakerview Park last weekend, with the only guests being their two daughters, Zoey (foreground) and Tessa. (Darren Ripka photo)
From New Zealand to Bakerview Park, B.C. couple weds in ‘backyard’

Twice scaled-down wedding ‘proof that good things still happen during bad times’

Police in Nanaimo are looking for a suspect who wore a black-and-white striped hoodie and rode a yellow mountain bike when he allegedly stole three children’s backpacks from a daycare facility. (Photo submitted)
VIDEO: Thief steals children’s backpacks from daycare in Nanaimo

Suspect rode a yellow mountain bike and made off with backpacks hanging on fence

Arthur Topham has been sentenced to one month of house arrest and three years of probation after breaching the terms of his probation. Topham was convicted of promoting hate against Jewish people in 2015. (Photo submitted)
Quesnel man convicted for anti-Semitic website sentenced to house arrest for probation breach

Arthur Topham was convicted of breaching probation following his 2017 sentence for promoting hatred

Langley School District's board office. (Langley Advance Times files)
‘Sick Out’ aims to pressure B.C. schools over masks, class sizes

Parents from Langley and Surrey are worried about COVID safety in classrooms

Join Black Press Media and Do Some Good
Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

The Klahoose First Nation village on Cortes Island is under lockdown until further notice due to a positive COVID-19 test. Photo courtesy Kevin Peacey.
Cortes Island First Nation community locked down due to positive COVID-19 test

Klahoose First Nation has had one positive test, one other potential case

Ladysmith’s 1st Avenue will be lit up until January 15. (Cole Schisler photo)
Light Up parade a no-go, but Ladysmith’s streets are still all aglow

Although the tradition Light Up this year was cancelled, folks can still enjoy the holiday lights

The baby boy born to Gillian and Dave McIntosh of Abbotsford was released from hospital on Wednesday (Nov. 25) while Gillian continues to fight for her life after being diagnosed with COVID-19.
B.C. mom with COVID-19 still fighting for life while newborn baby now at home

Son was delivered Nov. 10 while Gillian McIntosh was in an induced coma

Most Read