On June 18th, 2026, Prime Minister Mark Carney and Premier David Eby announced a partnership between the Government of Canada and the BC Government on various development-related measures, including a pledge by the federal government to invest more than $5 billion in B.C.’s local infrastructure.
1. Development:
The federal government’s new Build Communities Strong Fund (“BCSF”) will invest in multiple areas including the development of multi-unit homes, community infrastructure projects, and healthcare facilities. Over the next 10 years, the BCSF commits $1.6 billion, which will be matched by the B.C. government, towards multi-unit housing developments. This effort aims to decrease development charges of multi-unit housing by up to 50% in priority communities, potentially saving up to $40,000 per unit. Alongside lowering development costs, the BCSF plans to increase housing-enabling infrastructure such as water systems, wastewater systems, and local roads to further support growth.
2. Condo Conversion:
The federal and provincial governments, with Build Canada Homes and BC Housing, have partnered together for the Canada-British Columbia Partnership on Condo Conversion to efficiently increase the affordable housing supply. Using innovative financing mechanisms, they plan to convert more than 2,200 vacant condos located in priority growth areas into affordable homes.
3. Additional Measures:
These partnerships will be accompanied by new federal legislation that would provide a one-time transfer of $284 million to B.C. to reduce new construction barriers and increase efficient home-building.
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