New Building BC Community Housing Fund will invest $1.9 billion over 10 years; CHF BC and BCNPHA available for comment

Victoria, BC (April 18, 2018) – Housing Central partners Co-op Housing Federation of BC and BC Non-Profit Housing Association applaud the provincial government’s historic investment in the community housing sector with today’s announcement to build 14,000 new affordable rental housing units over the next 10 years through partnerships with non-profit housing providers, co-ops and municipalities.

“The Community housing sector is prepared to make our own investments to turn these funding announcements into homes for people,” says Thom Armstrong, Executive Director of the Co-op Housing Federation of BC. “This is also the first time in 16 years that the co-ops have been eligible for funding under a provincial housing program.”

“The Province has seen the value of the Affordable Housing Plan for BC released last year by BCNPHA, CHF BC and its partners, and is now investing these ideas into a reality for tens of thousands of British Columbians,” said Jill Atkey, Acting CEO of BC Non-Profit Housing Association.

About 5,000 of the 19,250 units were previously announced; funds included in the Provincial Investment in Affordable Housing (PIAH) and Investment in Housing Innovation (IHI) programs will be used to deepen affordability on those units. A mix of capital and operating subsidies will fund the remaining 14,000 units in mixed-income projects with the following criteria:

• 30% of units at affordable market rents for individuals earning up to $70,000 and families earning up to $104,000 annually
• 50% of units with rent geared to income
• 20% of units at shelter rates

BC Housing is issuing a requests for proposals to identify prospective partners from the community housing sector and municipalities to develop and operate the mix-income rental housing projects.

For more information or to arrange a media interview, please contact:

Dean Pogas
Communications Director
604-363-6590
media@housingcentral.ca

About Housing Central

Housing Central brings together BC Non-Profit Housing Association (BCNPHA), the Co-op Housing Federation of BC (CHF BC) Co-op Housing Federation of Canada (CHF Canada), Encasa Financial, Community Land Trust and COHO Management Services Society. Housing Central collaborates on cross-sector partnerships that help influence policy, generates media awareness and delivers world-class education and events to support its vision of a safe, affordable home for everyone.

About CHF BC

CHF BC is a co‐operative association made up of member housing co‐ops and related organizations in BC. The association represents 264 co‐op communities (comprising more than 14,500 households) across the province.

About BCNPHA

Formed 25 years ago, BCNPHA is the industry association for the social housing sector in BC. It represents, educates and provides services to more than 700 non‐profit housing providers that operate more than 60,000 units of long- and short‐term affordable housing across the province.