B.C.’s rental protection fund helps non-profits secure nearly 1,500 homes, says Eby
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 22/08/2024 (476 days ago), so information in it may no longer be current.
VANCOUVER – A British Columbia government fund to help non-profits buy rental buildings to protect tenants from eviction and maintain affordable rents is on track to exceed its target of 2,000 homes.
Premier David Eby says the government’s $500 million rental protection fund has so far approved funding to provide 1,500 affordable homes under the project, with many more applications being considered.
The government introduced the rental protection fund last year as part of its homebuilding and affordability agenda, to help preserve existing affordable rental properties and protect tenants from large rent increases.
Eby says the latest projects include a 35-unit apartment in North Vancouver and a 40-unit multi-family building in Squamish that have been purchased by Indigenous-led non-profit housing agencies.
He says both properties have rents that are less than 50 per cent of current market rates.
Eby says the buyers, North Vancouver’s Hiyam Housing and Housing Squamish, have committed to keep rents at current rates, with adjustments for inflation.
“Nobody in this province should live in fear of losing their housing or having their rent increased dramatically in ways they can’t afford,” Eby said at a news conference.
“We can ensure affordable housing for every single British Columbian if we work together.”
This report by The Canadian Press was first published Aug. 22, 2024.