The BC Green Party is proposing a $1.5 billion investment into a non-profit housing fund and the introduction of vacancy control to address the housing crisis, BC Green Leader Sonia Furstenau announced Wednesday.
“Rents have surged over 20% in two years, while wages have remained stagnant,” Furstenau said. “This isn’t just a housing crisis—it’s a crisis of equality.” She emphasized that housing instability affects the province’s growth, stating, “When people aren’t worried about renovictions or rent, they can contribute more to their communities and the economy.”
The BC Greens’ housing plan includes building 26,000 affordable rental units annually through investments in non-market housing providers and cooperatives, making public land available for non-profit housing development, and supporting community land trusts to secure land for non-market development.
Furstenau stressed prioritizing public assets for affordable housing rather than relying on for-profit developers. The plan also includes a reinvestment model for the fund, reducing the annual $1.5 billion over time and vacancy control to limit rent increases between tenancies.
The BC Greens will release their full housing platform in the coming weeks as part of their 2024 vision for the province.
