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B.C. rental housing plan includes 670 below-market rental units in Metro Vancouver

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VANCOUVER — The second phase of a homebuilding partnership between the province and Metro Vancouver will deliver up to 670 below-market rental units in four separate urban areas, Premier David Eby said Thursday.

Phase 2 of the partnership follows a memorandum of understanding signed last year between the British Columbia government and Metro Vancouver Housing to create 2,000 affordable rental homes over the next decade, he said.

Phase 2 projects are planned for locations in North Vancouver, the City of Vancouver and two locations in Coquitlam, with the province providing $226 million and Metro Vancouver contributing land and cash worth more than $367 million. The premier cited recent government laws, regulations and programs to build and increase the supply of affordable housing, including placing restrictions on short-term rentals, building rental units near transit lines and targeting public lands for middle-income homes.

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