Canada Invests $50 Million to Revolutionize Homebuilding in BC
- The Government of Canada will allocate $50 million over two years to promote innovative homebuilding solutions in B.C.
- PacifiCan is designated to deliver $7.1 million of this funding to improve local housing supply.
- This initiative aims to address the housing crisis and foster climate-resilient communities in British Columbia.
On November 8, 2024, the Government of Canada announced a new initiative aimed at enhancing homebuilding in British Columbia. The initiative, part of the broader Housing Plan, will allocate $50 million over two years to promote innovative home construction solutions. The funding will focus on increasing housing supply by supporting businesses in the residential construction sector. The Pacific Economic Development Agency of Canada will administer $7.1 million of this funding to further bolster local efforts in addressing the housing crisis. The initiative is set to respond to the growing demand for housing and aims to build climate resilience in communities throughout the region. This strategic investment represents Canada’s commitment to innovating housing construction processes and expanding options for homebuyers in a rapidly changing environment.