The Province of British Columbia created the Community Housing Fund in 2018. This fund develops affordable rental housing for families, independent seniors and individuals.
The Community Housing Fund is a $3.3-billion investment to build more than 20,000 affordable rental homes for people with moderate and low incomes by 2031-32. More than 12,000 of these homes are open or underway across the province.
CHF is one of the many, available housing funds available. There is also an Indigenous Housing fund, a Supportive Housing Fund and a Women’s Transitional Housing Fund.
What is happening?
The BC Housing Management Commission put out a Request for Proposals (“RFP”) for the CHF in August 2023. The call closed in November 2023. In March 2024, a total of 40 new projects, providing approximately 3,500 rental homes, were selected to move forward.
BC Housing intends to issue another CHF RFP in late 2024/early 2025. Operators / applicants are encouraged to start planning for this round by having conversations with partners, including BC Housing.
Who can apply?
- Non-profit co-operative, and municipal housing providers
- Organizations interested in applying for future proposal calls are encouraged to begin planning early
- Private partners are permitted to apply on behalf of non-profit societies, Indigenous groups, co-operative and municipal housing providers
Understanding the rental mix
The CHF investment includes affordable rental housing, but it does not include support services or residential care components. The rental mix must be as follows:
BC Housing manages the Housing Registry which is central database of subsidized housing. It is used by families/individuals applying for units managed by BC Housing and a number of non-profit and co-operative housing providers.
Program Requirement - 30% of Units
Rent Amount - Initial market rent approved by BC Housing and must be maintained at or above the CMHC Average Market Rent
Resident Selection - Operator selects the market tenants (Option to use the Housing Registry.)
Tenant Income Eligibility - Eligible applicants must meet current low-and moderate income limits. For 2024, this means applicants must make between $84,780 to $134,140 to apply
Proof of Eligibility - Proof of income is required at move in only
Program Requirement - 50% of Units
Rent Amount - Varies based on the rent calculation guide Rent Scale
Resident Selection - The operator selects the residents, and applicants must be selected from The Housing Registry
Tenant Income Eligibility - Tenants with an income below the applicable Housing Income Limits (HILs) will be selected from The Housing Registry
Proof of Eligibility - Proof of Income and Assets required annually
Program Requirement - 20% of Units
Rent Amount - Varies based on rent calculation guide Rent Scale
Resident Selection - The operator selects the residents, and applicants must be selected from The Housing Registry
Tenant Income Eligibility - Residents with an income below the Deep Subsidy Income Limits, as established by BC Housing, selected from the Housing Registry
Proof of Eligibility - Proof of Income and Assets required annually