More investment is needed to strengthen the economy and protect those most vulnerable to rising costs and instability
Vancouver, B.C. (March 5, 2025) – The Housing Central partners recognize the volatility shaping B.C.’s Budget 2025, with global forces influencing affordability and economic stability. While the full impact of tariffs and other external pressures on our economy and social safety net remains uncertain, our response to these challenges is critical.
Given that backdrop the Housing Central partners – the Aboriginal Housing Management Association (AHMA), BC Non-Profit Housing Association (BCNPHA) and the Co-operative Housing Federation of BC (CHF BC) – commend the provincial government for holding firm on its historic commitment to non-market housing investment. The pledge to complete 4,500 new homes annually is a meaningful step toward addressing B.C.’s housing crisis.
“We are heartened to see government staying the course on housing investments given the unprecedented economic uncertainty our province faces, and continuing to outpace investment by the federal government or any of their provincial counterparts,” said Jill Atkey, CEO of BCNPHA. “We will continue to pressure government on deeper commitments toward an Urban, Rural and Northern Indigenous Housing Strategy.”
The rent supplement increases announced in Budget 2025 will have an immediate, positive impact on affordability for seniors and 2,800 working low-income families. These increases will also address a growing gap in the rent supplement suite of programs that have not kept pace with rising rents.
That said, we believe an opportunity was missed to stimulate the economy and promote job growth through increased investment in the community housing sector. Housing investment is a significant contributor to the province’s GDP, and building new homes is a proven method of boosting job growth and protecting affordability.
There are options available to fund increased investments in non-market housing. For example, a reallocation of the nearly $1-billion expenditure on the annual Homeowner’s Grant to community housing could more than double the number of affordable homes funded by the province without net new spending.
Unfortunately, the biggest miss in Budget 2025 is the continuing failure to commit to a fully funded Urban, Rural and Northern Indigenous Housing Strategy. The Housing Central partners urge the provincial government to take immediate action to address this glaring omission, and ensure Indigenous individuals, families and communities have equitable access to safe, affordable housing.
“B.C. continues to build more non-profit and co-op homes than any of its provincial counterparts, and we acknowledge the importance of maintaining this commitment in these unprecedented times,” said Thom Armstrong, CEO of CHF BC. “We will be calling on the government to accelerate its investment in new affordable homes as soon as the impact of the current economic disturbance is more fully understood.”
For more information, or to arrange an interview, please contact media@housingcentral.ca.
About Housing Central
Housing Central brings together the following agencies representing and serving the community housing sector. We collaborate on cross-sector partnerships that help influence policy and deliver leading education and events to support our shared vision of a safe, affordable home for everyone.
About AHMA
The Aboriginal Housing Management Association is Canada’s first For Indigenous, By Indigenous housing authority, with more than 25 years of experience in advancing housing rights for Indigenous people.
About BCNPHA
BC Non-Profit Housing Association is the provincial umbrella organization for the non-profit housing sector; its 500+ members include non-profit housing societies, businesses, partners and stakeholders. Together, non-profit housing societies manage more than 60,000 units of long-term, affordable housing in over 2,500 buildings across the province.
About CHF BC
CHF BC is a co‐operative association made up of member housing co‐ops and related organizations in BC. The association represents 264 co‐op communities (comprising more than 14,500 households) across the province.