BC Housing, through the HousingHub, is responsible for the delivery of two major programs which support its core mandate: The Provincial Rental Supply program and the Affordable Home Ownership Program.
Both of these programs aim to increase the supply of affordable housing for middle-income households across British Columbia.
Programs
Provincial Rental Supply Program Framework
The Affordable Home Ownership Program (AHOP) Framework
The Affordable Home Ownership Program (AHOP) supports the development of new, owner purchased homes for eligible middle-income households. Full program details available here:
- Affordable Home Ownership Program (AHOP) Framework (pdf)
- Affordable Home Ownership Program (AHOP) Information Sheet (pdf)
- Affordable Home Ownership Program (AHOP) Frequently Asked Questions (pdf)
Provincial Rental Supply program's goal is to increase the supply and range of affordable and appropriate rental housing options for middle income households across British Columbia. Full program details available here: Provincial Rental Supply Program Framework (pdf)
Project Eligibility
BC Housing will consider proposals for funding through an open call for submissions. The evaluation of submissions will be based on proponent and project eligibility, need and demand, lending criteria and available financing. The following minimum eligibility requirements must be met:
- The site must be suitable for affordable housing.
- Housing must be affordable for eligible households.
- The project partner must demonstrate demand for affordable ownership units in the target community and that the project is consistent with community priorities and plans.
- The project partner must present a clear business case for the project including satisfying any pre-determined pre-sale requirements and demonstrating sales revenues will be sufficient to fully repay the interim construction loan.
- The project partner is required to bring equity to the development in the form of cash, grants, municipal reductions, or unencumbered land.
In addition to the minimum eligibility criteria, project partners are expected to have experience and knowledge of the home ownership market in the target community. Greater consideration should be given to projects where:
- Eligibility requirements are simple with minimal ownership restrictions consistent with program guidelines.
- Ownership costs are favorable against local market ownership costs and rents.
- Location is favorable, including proximity to amenities. Unit size, layout, design and finishing is modest, yet well-aligned with the expectations of the target market.
- The character of the target market suggests that proposed units will sell in a timely manner.
While all project partners must meet these basic requirements, BC Housing may prioritize projects based on available financing and other determining factors, such as:
- Greater need and demand/community impact
- Greater affordability
- Larger equity contribution
- Geographic location
Home Buyer Eligibility
All individuals who will have an interest in the home registered on title must meet all of the following eligibility requirements:
- Canadian citizen or permanent resident
- Resided in British Columbia for the past 12 months
- Not own an interest in real property anywhere in the world and currently live in rental housing or another non-ownership tenure (i.e. living with family).
- Combine gross household income of all individuals on title must not exceed the applicable Middle-Income Limit, defined as follows:
- Units with less than two bedrooms: Middle-income households are those whose gross household income does not exceed the 75th income percentile for families without children, as determined by BC Housing (currently $126,050)
- Units with two or more bedrooms: middle-income households are those whose gross household income does not exceed the 75th income percentile for families with children, as determined by BC Housing (currently $182,870)
Please download the program framework for full details.
Note: Only participating developments partnered with the HousingHub will have AHOP homes for sale. See Projects & Innovative Partnerships for current opportunities.
Tenant Eligibility
The Provincial Rental Supply program targets middle-income households, with income thresholds for eligibility as follows:
- Units with less than two bedrooms: Middle-income households are those whose gross household income does not exceed the 75th income percentile for families without children, as determined by BC Housing (currently $121,330)
- Units with two or more bedrooms: middle-income households are those whose gross household income does not exceed the 75th income percentile for families with children, as determined by BC Housing (currently $173,800)
Rents must be affordable for eligible tenants, as determined by BC Housing, and remain affordable for a minimum of ten (10) years.
Please download the program framework for full details.