After unveiling the BC Builds program in February, the Province announced the first 8 development sites being made available through the program on Monday.the first eight development sites that are being made available through its new BC Builds program and that it's now accepting development proposals for these sites.
Additionally, to be considered an eligible proposal, the project must target "households in BC Builds income ranges with rents that don’t require households in this range to spend more than 30% of their income on rent: $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.
Regarding the rental rates at which those units will be provided, the Province says "All units in the development must be rented at or below market as determined by an appraisal of current market rents in the community, and at rents suitable for eligible households considering the location and average household income for the area, but must not exceed 30% of the Middle-Income Limits in effect at time of occupancy and at unit turnover.
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