Feds and British Columbia ink housing agreement
July 5, 2018
The federal government and the B.C. government have formalized a $990 million agreement, originally floated in November 2017, that proponents say will repair and preserve about 34,500 social housing units and deliver thousands of new affordable rental homes.
The cost-shared investment announced is in addition to $705 million in previously planned federal housing investments in British Columbia through the Social Housing Agreement (SHA) over the next 10 years.
The overall plan is audacious. The B.C. government alone claims it will deliver 114,000 assisted housing units over the next 10 years, including 2,500 units for the homeless.