Four B.C. housing organizations are calling on all parties in the provincial election to commit to bringing down the cost of building homes.
The organizations include The Urban Development Institute (UDI), BC Non-Profit Housing Association (BCNPHA), Aboriginal Housing Management Association (AHMA), and Co-operative Housing Federation of BC (CHFBC).
The partners say the cost of building and financing a home in B.C. now exceeds what most buyers can afford to pay and what governments are willing to subsidize for low- and moderate-income renters. For market and non-market builders alike, this means projects that don’t pencil and never get off the drawing board.
For non-market developers, rising costs mean a bigger affordability gap and more people pushed to the margins.
Both sectors face the same cost stack: land, construction, government fees and charges, financing, and time. If government brings those costs down, both sectors build more. Lowering housing delivery costs is an investment in affordability, economic productivity, jobs, and stronger communities.
“The projects are ready, but the land sits empty. The people waiting for affordable housing cannot wait another budget cycle. The next government has an opportunity to restore the investment and get these homes built,” said Jill Atkey, CEO of the BC Non-Profit Housing Association.
