About BC Builds

BC Builds is a housing program, delivered by BC Housing, to speed up the development of new homes for middle-income working people throughout British Columbia. 

An elderly couple is joyfully preparing food together in a bright, modern kitchen. The man, wearing a denim shirt, is slicing tomatoes on a wooden cutting board, while the woman, in a white blouse, is laughing and holding a glass of white wine. Fresh vegetables and a bottle of wine are on the countertop, with open shelving above adorned with plants and dishes. The atmosphere is warm and welcoming.

Today, the development of new rental housing is impacted by inflation, the cost of land, the cost of construction, and high interest rates. This can make financing and building new rental housing challenging.

BC Builds uses low-cost land, low-interest financing, grants, and speeds up project timelines to reduce how long it takes to get a building from concept to construction.

Once complete, BC Builds homes have a target of middle-income households spending approximately no more than 30% of their income on rent. Additionally, at least 20% of units will have rents that are at least 20% below market rate for projects in partnership with non-profits and First Nations.

A BC Builds homeownership program is under development. More information about this program will be available once program details are finalized.

How the BC Builds Rental Supply Program Works

In addition to providing low-interest and repayable financing to residential developers, BC Builds increases the amount of government, non-profit and community owned land in the province used to build housing by:

1. Identifying low-cost land for development

A dedicated team is working with government, non-profit, and community landowners to identify underutilized properties that can be developed or redeveloped into rental housing. Landowners could include municipalities, First Nations (on- and off-reserve lands), federal government, provincial government (including school districts and health authorities), faith-based groups, legions, private owners, and others.

Once properties are identified, the BC Builds team works with the landowner and relevant local government to make the land available at low cost and get approvals in place. Landowners can find a development partner on their own or source one through BC Builds.

A residential street scene with modern houses on one side and a lush green forest in the background. The sky is partly cloudy, suggesting early summer weather. There is an empty, undeveloped lot in the foreground, with patches of grass and a large log lying across it. The houses have a contemporary design with dark and neutral colors, and the neighborhood appears quiet and newly developed.
Construction workers on a building site. Three workers wearing bright safety vests and hard hats are standing on a concrete foundation with steel reinforcement bars. The site is covered with blue protective sheets, and there are piles of construction materials scattered around. The focus is on the workers, creating a miniature effect on the surroundings.

2. Bringing together landowners, residential developers and speeding up project development timelines

Once properties are listed with BC Builds, non-profit, First Nations, private developers and housing operators are invited to review a Property Opportunity Notice for development sites and submit a proposal to develop and/or operate rental housing on the site.

BC Builds moves projects from concept to construction in 12-18 months, rather than the typical three-to-five years. This acceleration is accomplished by streamlining development processes and by the BC Builds team working collaboratively with landowners, municipalities, and residential developers to work through and remove any barriers.

BC Builds also facilitates partnership agreements and lease terms between landowners and residential developers and help support the evaluation of proposals.

BC Builds can make predevelopment loans available to prospective partners who have land and an initial concept but need additional financial support to advance their project.

This image presents a comparison between a conventional development process and timelines versus an accelerated process by BC Builds. The top half of the image shows the conventional process as a linear timeline with stages labeled 'Land', 'Feasibility', 'Partnerships', 'Approvals', 'Financing', and 'Construction', suggesting a development period average of 36-60 months. The bottom half shows the BC Builds process, which includes the same stages but illustrates them as interconnected steps leading to a 'Project Team' block before reaching 'Construction'. This process is highlighted to speed up timelines from concept to construction, with a development period average of 12-18 months. The BC Builds process is visually represented as more efficient, with shorter connections between each stage, symbolizing a streamlined approach.

3. Providing low-interest financing and grants

BC Builds offers low-interest financing for new residential rental developments. As needed, BC Builds provides grants to non-profits and First Nations development corporations so at least 20% of the units are at 20% below market. This upfront investment means BC Builds buildings will operate without an ongoing subsidy from government.

A total of $2 billion in provincial financing will be available to BC Builds to provide low-cost construction financing.

The Government of BC is committing $950 million to BC Builds through 2027.

For more general information about the BC Builds program, download the BC Builds Program Overview and the BC Builds Frequently Asked Questions. For detailed information about the BC Builds program, please view the Program Framework.

Two young men sharing a light-hearted moment in a bright, modern kitchen. The man in the foreground is washing dishes at the sink, wearing a dark sweater and smiling down at a white plate he's cleaning. The other man, wearing a plaid shirt, is seated at the kitchen island, leaning back and laughing. The natural light from the windows illuminates the kitchen, creating a relaxed and friendly atmosphere.