BC BUDGET: NDP pushes for purpose-built rentals in ‘historic’ $1.6B investment

Hundreds of thousands of new low- and middle-income units coming over three years

The province is bringing in stronger protections for renters and put millions into new rental properties in an attempt to combat the minuscule rental vacancy rates in B.C.’s urban centres.

The 2018 budget rolled out $1.6 billion for affordable housing over three years as part the province’s previously announced $6-billion commitment to build 114,000 units over the next decade.

The funding is heavily back-loaded, with $243 million in 2018/19, $594 million in 2019/20 and $784 million in 2020/21.

MORE ON BC BUDGET: NDP cracks down on speculators, hidden ownership

Over those next three years, $378 million will build 14,000 homes for “the missing middle,” or the skilled workers that NDP Finance Minister Carole James said are choosing other places to work after seeing the cost of housing in B.C.

Low-income and social housing continued to be a focus, with 2,500 new modular homes, $550 million in social housing for off-reserve Indigenous people, and $141 million to house women and children fleeing domestic violence.

“It’s the beginning of a long road of investment,” said CEO Bev Gutray of the Canadian Mental Health Association of the modular homes. “They’re going to provide housing with 24-hour-[a-day] staffing support. That’s really good news for lots of people.”

To encourage more rental units, starting in 2019, the province will mirror property tax exemptions provided under municipal revitalization agreements for qualifying purpose-built rental housing. In prior years, purpose-built rentals still paid provincial taxes. It will also exclude purpose-built rentals from paying school taxes.

READ: New rental building in Surrey sees nearly 2,000 applicants for 97 units

Cooperative Housing Federation of B.C. executive director Thom Armstrong said he was “extremely happy” with the budget.

“We think that’s a critical measure,” said Armstrong. “The stimulation of the rental housing sector has been a key part of our plan.”

The province will commit $5 million over three years to pay for housing need assessments for local governments to make sure that housing gets built where the need is greatest.

The government is also looking to move students out of the tight housing market by helping post-secondary institutions build 5,000 new student beds on campus. The money will come from a $450-million student housing fund that allows universities and colleges to borrow directly from the province.

No renters’ rebate

Renters who manage to find a home in B.C. will find it easier to keep it, James said.

The province will look into stronger, although so far vague, protections for renters forced out by “renovictions.”

There was no mention of the $400 a year renters’ rebate, much touted during the campaign – only a vague promise to review the homeowners’ grant program to make it fairer for renters.

More low-income renters will be captured by a higher threshold for the Rental Assistance Program. The province said a new $40,000 limit – a $5,000 increase – will add 3,200 more households to the program.

Seniors reliant on the Shelter Aid for Elderly Renters program, meanwhile, will receive about $930 more per year.


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Surrendered Comox Valley cats nearing adoption through SPCA

Thanks to the support from staff, volunteers and the community, more than… Continue reading

D’Esterre Gardens tenant wins right to stay after receiving eviction notice for being too young

Zoe Nagler had been living in the housing complex for six years prior to receiving the eviction notice in January

Courtenay Little Theatre’s production of Hedda Gabler opens April 5

Catherine Hannon Special to The Record As the director of Courtenay Little… Continue reading

Comox overdose awareness display blessed by the Pope

Judith Conway created the display in honour of her son and others who have died of overdoses

Six orcas seen off Point Holmes Saturday

A pod of orcas treated many onlookers to a show Saturday evening.… Continue reading

VIDEO: The ‘most cosmopolitan’ of butterflies could migrate to B.C.

The painted lady butterfly will likely arrive this summer from Southern California

Inspirational Vancouver Island youngster dies after battle with brain cancer

Kaiden Finley ‘was seriously the strongest 11-year-old’

Is it a homicide? B.C. woman dies in hospital, seven months after being shot

Stepfather think Chilliwack case should now be a homicide, but IHIT has not confirmed anything

Indecent caller handed 18-month conditional sentence

Vancouver Island man pleaded guilty to making indecent phone and video calls to women across B.C.

Sources say Trudeau rejected Wilson-Raybould’s conservative pick for high court

Wilson-Raybould said Monday “there was no conflict between the PM and myself”

First Nations public art piece stolen in Nanaimo

Spindle Whorl went missing over the weekend, according to Nanaimo RCMP

Father-son duo at B.C. Children’s Hospital helps new dads fight depression

The pair teamed up to introduce the only known research-based mindfulness workshop for new dads

Mexican restaurant in B.C. told to take down Mexican flag

General manager of Primo’s Mexican Grill in White Rock: ‘I’ve never heard of anything like this’

B.C. NDP moves to provide tax credits, tax cut for LNG Canada

Provincial sales tax break of $596 million repayable after construction

Most Read