Housing Development Opportunities

Constructors discussing

BC Builds is a new program that partners with developers and housing operators to speed up delivery of lower cost rental homes for middle-income people in BC.

Together we:

  • Find underused land
  • Provide financing and funding
  • Speed up development timelines
  • Build more rental homes 

Below you can explore BC Builds current housing development opportunities seeking developers and housing operators. For further assistance or inquiries, please do not hesitate to info [at] bcbuildshomes.ca (contact us). 

For non-profits that want to submit proposals to own and operate buildings, please team up with a developer/builder (for profit or non-profit) to submit a proposal. BC Builds is not seeking proposals for building operators only.

Current Housing Development Opportunities

Interested in submitting a proposal? Attend an info session. View properties below to learn more. 
Showing 1 - 8 of 8
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.
Proposal Submission Due:

Elkford - 421 Boivin Rd

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Information Session
Monday, May 6, 2024 at 12:00pm
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.
Proposal Submission Due:

Kamloops - 377 Tranquille Rd

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Information Session
Monday, May 6, 2024 at 3:00pm
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.
Proposal Submission Due:

Kelowna - 1428 St Paul St

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Information Session
Friday, May 10, 2024 at 12:00pm
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.
Proposal Submission Due:

North Cowichan - 9800 Willow St.

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Information Session
Friday, May 10, 2024 at 2pm
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.
Proposal Submission Due:

Sooke - 6671 Wadams Way

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Information Session
Monday, May 9, 2024 at 10:30am
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.
Proposal Submission Due:

Township of Langley - 20230 72B Ave.

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Information Session
Friday, May 10, 2024 at 8:30am
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.
Proposal Submission Due:

Township of Langley - 27200 Block of Fraser Hwy.

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Information Session
Friday, May 10, 2024 at 9:30am
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.
Proposal Submission Due:

Township of Langley - 7883 199 St.

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Information Session
Friday, May 10, 2024 at 10:30am

More housing development opportunities coming soon

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Program details

BC Builds is a rental housing program for middle income households. These are households earning a range of $84,780 and $131,950 per year for couples with no children for a studio or one-bedroom apartment and $134,410 to $191,910 per year for couples with children, needing a two or larger bedroom home. The aim of the program is to provide housing for households within these ranges. To help achieve this goal BC Builds can provide: 

  • Low-cost construction financing for buildings owned and operated by for-profit and non-profit developers
  • Direct access to CMHC construction and  financing.  
  • Low-cost take-out financing  
  • Grants of up to $225,000 per unit for buildings owned and operated by co-operative or non-profit developers and First Nations controlled development corporations, with the goal of having at least 20% of the units at 20% below market rents  

Please refer to the BC Builds Rental Supply Program Framework for full program details before submitting your proposal. 

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.

How to apply

  1. Review detailed property information, criteria and deadlines in the Property Opportunity Notices.  
  2. Attend an optional Property Information Session about a specific Housing Development Opportunity. Please see the property listings above for times and dates.  Contact BC Builds info [at] bcbuildshomes.ca (info[at]bcbuildshomes[dot]ca) if you have any questions about a Property Opportunity Notice. Please do not contact landowners directly.  
  3. Review the BC Builds Rental Supply Framework.  
  4. Applicants can present their submission in the form and format of their choice, with the option of using this Capital and Operating Budget Template.
  5. Proposals must be sent to info [at] bcbuildshomes.ca (info[at]bcbuildshomes[dot]ca) on or before the due date listed in the Property Opportunity Notice.

Note: Detailed information on eligibility and full evaluation criteria and scoring can be found in the Property Opportunity Notices above.  

You can apply for a BC Builds Housing Development Opportunity if you’re a:

  • co-op or non-profit developer
  • First Nations developer
  • private developer

Please note:

  • Some landowners are seeking a developer and a building owner/operator. Others are looking to secure just a developer/builder. Please read each Property Opportunity Notice for details.    
  • Private developers/builders may partner with non-profits and co-ops. Private developers may also submit their own proposals to develop, build, own and operate housing unless otherwise specified in the Property Opportunity Notice. 

You must:

  • Be registered and in good standing with the BC Corporate Registry or partner with a business or organization that is.
  • Have previous property development and property management experience or engage professional third-party consultants or property management company.
  • Have a plan for construction and operations that’s financially viable.  
  • Meet equity requirements. 
  • Successful projects must break ground within 12 -18 months (depending on the complexity of the project) from the signing of a Conditional Land Contribution letter following the selection of a successful proponent (see process diagram).
  • The land must be used to create new housing for middle income families as defined in the BC Builds Rental Supply Program Framework.  
  • Eligible projects must be primarily residential but can include ground floor commercial and/or community uses and/or childcare. 

Land will be leased at nominal ($1.00) value by the landowner to the successful applicant on 60- to 99-year basis or disposed of at nominal value. Please see individual Property Opportunity Notices for details. 

Rates for interim construction financing
2024                       4.75%

2025                       3.65%

2026                       3.30%

2027                       3.30%

 

Rates for take-out financing
2024                       4.69%

2025                       4.56%

2026                       4.52%

2027                       4.52%

Depending on the number of applications received, it will take several weeks for BC Builds and the landowner to review proposals and select a successful applicant.

There is no cost to apply. 

Housing Development Opportunities Process Overview

Housing Development Opportunities Process Overview Graphic