2,900 new rental units coming to B.C.: Christy Clark
The B.C. government is spending $500 million on more rental housing in the province. (CTV/Chopper 9)
BURNABY, B.C. - The British Columbia government is spending $500 million on more rental housing in the province.
Premier Christy Clark announced the money will be used to create 2,900 rental units in a partnership with non-profit groups, local governments, community agencies and the private sector.
The government says it's the largest single housing investment in a single year by any province in Canada.
Clark says the announcement is a significant step towards helping more people find an affordable place to live.
The money will fund a mix of housing for low-to moderate-income earners, seniors, students, adults with developmental disabilities, aboriginals and single parents.
Last week, Finance Minister Mike de Jong announced that an extra billion dollars in real estate taxes and $1.3 billion in higher income taxes helped to boost revenue, allowing some of that money to be used for housing.