Federal government unveils Rapid Housing Initiative, roughly $80 million to be spread among three BC cities

Roughly 80 million dollars will be spread among three BC cities as the federal government unveils its one-billion dollar Rapid Housing Initiative.

The program was announced this morning and includes 500 million dollars shared among 15 Canadian cities to help buy properties to build or renovate for low-income housing.

Vancouver receives 51.5 million, Surrey is in line for 16 million dollars and Victoria gets 13 million, while Canada's largest city, Toronto, receives 203 million.

Vancouver Mayor Kennedy Stewart welcomes his city's share of the cash, saying it shows the federal government supports municipal efforts to fight homelessness.