British Columbia launched a 3-year pilot program offering up to $40,000 forgivable loans for building secondary suites to address the housing crisis.
B.C. launched a 3-year pilot program offering homeowners forgivable loans of up to $40,000 towards building secondary suites, such as basement or garden suites, to address the province's housing crisis. The Secondary Suite Incentive Program, which opened applications on May 2, covers up to 50% of renovation costs and requires successful applicants to rent the suites at below-market rates for at least five years.
May 02, 2024
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