B.C. has struck a deal with the federal government for Ottawa to provide more than $5 billion for housing and infrastructure in B.C. over the next 10 years. Funding will include $2.5 billion for transit, such as SkyTrain development, $1.6 billion to lower development cost charges, $600 million for health-care infrastructure, a $284-million one-time payment to reduce barriers to new construction, $100 million for a new Tumbler Ridge secondary school and $50 million for infrastructure in coastal communities such as Prince Rupert and Terrace. B.C.
will match the funds for development cost charges, the $600 million for health care and the $100 million for a new school in Tumbler Ridge. The money for development cost charges will lower these fees for multi-unit housing projects by up to 50 per cent in priority communities, resulting in savings of up to $40,000 per unit. More to come.
B.C. housing, federal government, $5 billion, development cost charges, SkyTrain, health-care infrastructure, Tumbler Ridge secondary school, Prince Rupert, Terrace, coastal communities, transit funding
So does this mean rent goes down like… right away or nah?
They keep saying housing, but it’s mostly transit and charges and stuff. Like who even benefits first? I saw SkyTrain and instantly thought of condos getting built for rich people.
Wait reply? The article says $5 billion over 10 years but also $284 million one-time… so is that the same thing or two separate pools? Seems kinda confusing. Also lowering development cost charges by 50% sounds good but only for multi-unit in priority communities, so I’m guessing not where everyone lives.
This is just Ottawa sending money to provinces because they messed something up earlier. Like the charges are the reason prices are high, but somehow they’re still building around it. Prince Rupert Terrace Tumbler Ridge school?? cool I guess but I don’t see any mention of actually stopping homelessness, just more infrastructure.