VANCOUVER – The province of British Columbia is inviting non-profits, First Nations, municipalities and other organizations to submit proposals for the Building BC: Community Housing Fund (CHF).
Proposals for the CHF are managed by BC Housing and will be accepted until mid-November 2023. The project proposals will be evaluated and projects totalling approximately 3,500 units are expected to be announced in early 2024, a government release stated.
“We are in a housing crisis, and this new round of CHF funding will ensure more people have access to an affordable place to live by creating approximately 3,500 homes. This is a significant step toward our goal of 20,000 CHF-funded homes by 2032, as our province increases its housing stock faster than ever so people have the homes they need now and into the future,” provincial minister of housing Ravi Kahlon said.
Projects will be prioritized on several criteria including prioritized populations and the effect the project would have in addressing the community’s affordable rental housing need, the release stated. Project-development funding will also be available for projects requiring more development to prepare them for the next CHF funding call.
The CHF is a $3.3 billion investment with an eventual goal of building 20,000 affordable rental homes for people with moderate and low incomes by 2031-32. Approximately 9,000 homes are open or being built across B.C., the release stated. Additional CHF proposal calls will be issued during the next four years to allocate funding for the remaining units.
The first CHF intake was in 2018 and the second intake was a call for proposals with a two-stage close in fall 2020 and in January of 2021.