Nearly 1,200 rental homes are being developed in the Township of Langley and Burnaby as part of the BC Builds program. These projects, aimed at middle-income families, seniors, and individuals, are designed to address the housing affordability crisis in British Columbia. BC Builds, launched in February 2024, focuses on creating lower-cost rental homes by leveraging underused land and providing loans to builders at rates lower than those offered by banks. The initiative is part of the broader housing strategy by the B.C. government to deliver affordable housing and tackle the province’s ongoing housing shortage.
In Langley, construction has already begun on The Colton (Phase 2), a development that will offer 371 rental homes in four six-story buildings. The units will be a mix of studio, one-, two-, and three-bedroom apartments, with 95 of them adaptable for accessibility. Rent prices will be set closer to the project’s completion in 2027, with at least 40 units priced below market rates. This project is a partnership between BC Housing and Tannin Developments, and aims to provide quality, affordable housing for middle-income individuals and families in the area.
In addition to The Colton, three other pre-zoned sites in Langley are under early development. These projects, involving partnerships with Caliber Communities and Edgar Development, will collectively bring nearly 370 rental units to the area. The precise number of units and further details, such as design elements and project timelines, will be released once finalized. These developments are designed to expedite housing production through the Housing Development Opportunities platform, which connects builders with municipalities ready to fast-track the permitting process.
Meanwhile, in Burnaby, a significant project is in the proposal stage. A rezoning application is moving forward for approximately 430 rental units at a site in partnership with The Neighbourhood Church. If approved, the 45-story building will replace the existing church facilities with a multi-purpose space that includes a ministry hub, retail, and an arts centre. The development is expected to serve middle-income households, with rents projected to be affordable for families and young professionals. If the rezoning and financial approvals proceed smoothly, construction could begin by late 2025.
The BC Builds program operates by addressing land acquisition issues, one of the largest cost barriers in housing construction. By providing access to government, non-profit, and community-owned land at little or no cost, BC Builds aims to ensure affordable new housing developments. The program also includes grants to public, non-profit, and First Nations groups to further reduce rents, aiming to keep 20% of homes in each development at least 20% below market rates. Builders involved in BC Builds receive repayable loans at lower interest rates, further reducing costs and making projects more financially viable.
The rents for these new BC Builds homes will be aligned with local market conditions, but are designed to be affordable for middle-income households, ensuring that these families spend no more than 30% of their income on rent. Specific rental rates have been outlined for projects currently under construction, with prices ranging between $1,240 and $3,900, depending on unit type and location. These rates are expected to be finalized closer to the completion of the developments.
These projects are part of a $19-billion investment by the B.C. government to increase the supply of affordable housing. Since 2017, nearly 80,000 homes have been delivered or are underway across the province, including over 1,400 in Langley and more than 3,700 in Burnaby. By collaborating with private developers, municipalities, and community organizations, BC Builds aims to address British Columbia’s housing challenges.