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Apr 29, 2024 8:29 PM - The Canadian Press

B.C. secures eight new sites for middle-income rental housing scheme

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B.C. Premier David Eby says the program's continued growth is needed because "handing over" the market to speculators and investors isn't "the way forward."(Photo: The Canadian Press)

British Columbia has secured eight new sites for its BC Builds program, in which land owned by the province, non-profits or community groups is pre-zoned to build middle-income rental housing.

The new sites include three in the Township of Langley, one each in Kelowna and Kamloops, as well as properties in Sooke and Chemainus on Vancouver Island and Elkford in East Kootenay region.

The province says it is now seeking proposals for all eight sites to "fast-track" rental homes, as BC Builds backs the projects with low-cost financing.

B.C. Premier David Eby says the program's continued growth is needed because "handing over" the market to speculators and investors isn't "the way forward."

The province says the plan is for BC Builds projects to go from "concept to construction" within 12 to 18 months after the sites are identified, and there are already four other sites in place in Vancouver, North Vancouver, Duncan and Gibsons.

The total of 12 sites are estimated to deliver about 524 homes, and B.C. Housing Minister Ravi Kahlon says communities wanting to partner with the province on similar projects should contact his ministry immediately.

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