With the upcoming election to happen in May 2017, Premier Christy Clark is revealing some optimistic plans for the development of affordable housing units in BC to be rolled out in the near future. These plans which include using $500 million in tax profits from the real estate sector to construct 2,900 rental units brings assurance to many who are concerned about the current availability for affordable housing options throughout the Province.
Although not all information on the plans have been provided, it is forecasted that approval and construction for these units will be established for March 2017. This combined with other initiatives from the government including the announcement in February to add $355 million to affordable housing to create 2,000 new units means that BC is heading in the direction of a surge of affordable housing options.
With each announcement of allocation of government funds, there always comes criticism. But we continue to be pleased to see that the discussion and action toward ensuring affordable housing is occurring.
To read more about the funding announcement, click here.