The BC Government says more affordable housing options are on the way as eligibility for the Secondary Suites Incentive Program (SSIP) is being expanded to 16 regional districts, including the Regional District of Fraser-Fort George.
The three-year pilot SSIP was introduced in September 2023, and is set to launch in April 2024, supporting the delivery of as many as 1,000 affordable rental units per year.
“We’re expanding the secondary suite program as part of our Homes for People action plan to support the supply of affordable long-term rentals in even more areas of the province so more people can access below-market housing in urban and rural areas alike,” said Minister of Housing Ravi Kahlon.
“We’re using innovative solutions to make it easier for homeowners and communities to build homes faster, so people can live and work in the communities they love.”
According to the province, the SSIP will provide approximately 3,000 homeowners with forgivable loans for as much as $40,000 to create a new secondary suite or an accessory dwelling unit on their property.
To qualify, the units must be rented below market rates for at least five years.
“The availability of affordable housing is a significant issue throughout the province in both urban and rural areas,” said Jerrilyn Kirk, Regional District of Fraser-Fort George director.
“Regional Districts welcome their inclusion in the SSIP as it provides another tool to help regional districts and their residents address this challenge.”
The province will review whether it can add additional regional districts in years 2 and 3 of the project.
The province has also released Home Suite Home, a comprehensive guild to build and manage a rental suite in BC.
The legislation was introduced on November 1st, 2023 to allow secondary suites and accessory dwelling units across BC.
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