Roughly $80 million will be spread among three B.C. cities as the federal government unveils its $1-billion Rapid Housing Initiative.

The program was announced this morning and includes $500 million shared among 15 Canadian cities to help buy properties to build or renovate for low-income housing.

Vancouver receives $51.5 million, Surrey is in line for $16 million and Victoria gets $13 million, while Canada's largest city, Toronto, receives $203 million.

Vancouver Mayor Kennedy Stewart welcomes his city's share of the cash, saying it shows the federal government supports municipal efforts to fight homelessness.