Over the next five years, the governments of Canada and British Columbia have committed to a further investment of $300 million through the extension of the Investment in Affordable Housing (IAH) agreement. The program assists individuals and families in accessing affordable housing.

“Our government remains committed to smart investments in housing to create better economic outcomes for the Canadian families who benefit from these programs,” says Minister of State for Social Development Candice Bergen. “By partnering with the provinces and territories we want to ensure that this investment improves the quality of life of low-income Canadians, and creates needed jobs and opportunities for apprentices.”

The federal and provincial governments will each contribute $150 million from April 1, 2014 to March 31, 2019. Funding from the Province of British Columbia will help support and enhance existing programs, and support new construction and renovations.

“The extension of this agreement will help us to create more housing options for British Columbians,” says Rich Coleman, B.C.’s deputy premier. “Over the next five years, this funding will help build new affordable housing, enhance our rental assistance programs and support partnerships that will contribute to stronger, more sustainable communities.”