BC Gov News
More affordable homes will be on the way quicker as the Province takes steps to speed up construction timelines and reduce up-front costs for homebuilders. “We are committed to finding innovative and cost-effective solutions to build housing, so everyone has a fair chance to live in communities where they work and belong,” said Ravi Kahlon, Minister of Housing and Municipal Affairs. “These changes are about supporting housing development and easing the financial burden on builders and developers so they can get shovels in the ground faster to help unlock more homes for people in B.C.” The Province is creating more flexible and extended payment timelines for homebuilders, so more homes can continue to be built at a time when construction costs and interest rates are high. This will improve the viability of housing projects as homebuilders can invest in new housing projects sooner. Lower carrying costs will also help unlock more housing developments that need additional capital. Governme
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