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Trudeau visits Vancouver for housing announcement [Video]

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Ottawa is kicking in an extra $2 billion in financing for the recently announced BC Builds program, Prime Minister Justin Trudeau said Tuesday.

Last week, B.C. Premier David Eby launched the initiative, which aims to build middle-class rental homes on public, non-profit, community-owned and “underused” land. The provincial government is also providing $2 billion in construction financing, and a $950 million investment for the project.

“Solving the housing crisis is a complex problem, and it won’t be solved by simplistic slogans or buzzwords,” Trudeau said at a news conference in Vancouver, praising the BC Builds program as “ambitious,” “visionary” and “fundamentally practical.”

The federal money comes in the form of low-cost loans through the apartment construction loan program, and will help build “a minimum” of 8,000 to 10,000 units over the next few years, the prime minister said.

“B.C. was actually the canary in the coal mine for the problems we’re seeing across the country around housing affordability,” Trudeau …

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