Nearly 1,200 rental homes coming to Langley, Burnaby through BC Builds

Nearly 1,200 rental homes are coming soon for individuals, seniors and families with middle incomes in the Township of Langley and Burnaby, through new BC Builds projects.

“Too many people are having a hard time finding a place to live they can afford – through BC Builds we’re taking action to fix that,” said Ravi Kahlon, Minister of Housing. “We’re delivering more middle-class homes so the people who keep our communities working, like teachers, nurses and construction workers, can find a place to live they can afford in the communities they love.”

By leveraging underused land and repayable loans for builders at rates better than banks, which are all paid back to government with interest, BC Builds is designed to overcome challenging market conditions and deliver lower-cost rental homes for people in communities throughout B.C. The program also provides grants to ensure greater affordability and works with municipalities, landowners, residential builders and housing operators to move projects from concept to construction within 12 to 18 months, compared to the current of average three to five years.

“We’re delivering homes middle-income people can afford, in our community,” said Megan Dykeman, MLA for Langley East. “Through programs like BC Builds, we’ll be welcoming over 700 homes to Langley, and over 400 in Burnaby, so that the people who support our communities can afford to live in them. This will make a profound difference for families in these communities.”