The British Columbia government has introduced a multibillion-dollar plan to construct more homes as quickly as possible in an attempt to build its way out of the housing crisis.
The so-called Homes for People plan starts with a $4-billion investment over three years and commits to $12 billion over a decade with incentives to build, laws to curb speculation and financial help for renters and homeowners.
This is in addition to the plan the NDP government introduced in 2018, that it says has built more than 74,000 homes towards a promise of 114,000 units over a decade.
The latest proposal focuses on building more townhomes, duplexes and triplexes through zoning changes, offering forgivable loans for homeowners to build and rent secondary suites at below market rates, and constructing thousands of homes for renters, Indigenous Peoples and students….