GVBOT Welcomes Ottawa–B.C. Partnership as a Positive Step for Housing, Infrastructure, and Public Transit

The announcement by the federal and B.C. governments of a new partnership is a welcome step to support homebuilding and local infrastructure. It sends an important signal at a time when new housing starts have collapsed, and construction and real estate sectors have seen job losses.   

We are pleased to see the partnership and some progress towards solutions, including $1.6 billion from the federal government, to be matched, to reduce development charges. This is a meaningful step toward improving project viability and enabling the construction of more housing for families and workers. 

In April, GVBOT joined business associations in writing to Premier Eby and Minister Boyle, to ensure investment in new housing and associated development infrastructure are available to B.C. businesses and homebuyers relative to other jurisdictions in Canada. However, it appears that GST will still apply, compared to Ontario, where the HST was removed for new sales. 

Additionally, we look forward to continued investment in transit infrastructure to reduce congestion. The federal government’s investment of $2.5 billion over 10 years through the Canada Public Transit Fund is a welcome and necessary step toward addressing the region’s transit funding needs and supporting the public transit system that is critical to economic growth and workforce mobility. We hope that continued progress and momentum can occur with the province and the Mayor’s Council.

B.C.’s housing sector is facing a significant slowdown, with declining development and construction activity. The construction and housing sector is a cornerstone of the provincial economy, supporting jobs, investment, and livable communities. While this agreement will not solve all the challenges facing the homebuilding sector or transit funding, it represents progress in the right direction.