CANADA, March 19 - Due to uncertain financial times, and with the federal government committing to implement a similar program, the Province’s pilot secondary-suite incentive program will no longer be accepting applications after March 30, 2025.
Funds allocated from this program will go toward other existing and future BC Housing programs and services aimed at delivering more affordable homes for people, including BC Builds.
“As we face uncertain economic conditions and an unpredictable tariff situation with the United States, we’re making sure we deliver the best value for people,” said Ravi Kahlon, Minister of Housing and Municipal Affairs. “With the federal government committing to deliver a national secondary-suite program, we are ensuring that we are not duplicating programs so we can use those funds for other programs that give people more housing options.”
Announced in 2023, the three-year pilot program was designed to provide assistance in the form of a forgivable loan to eligible homeowners who build a secondary suite or accessory dwelling unit on their property.
In 2024, the federal government announced the intention to launch a similar program, the Canada secondary-suite loan program, enabling homeowners to access low-interest loans of up to $80,000 to add a secondary suite. Homeowners in B.C. who are interested in developing a secondary suite may have the opportunity to apply for loans through the federal program when it is launched. Applicants who have started the process with the provincial secondary-suite incentive program and who have received all necessary permits and cost estimates will be able to submit their application until March 30, 2025.
BC Housing will continue to work with approved applicants to process committed funds, register forgivable mortgages and carry out loan forgiveness over the coming years.
The Province is continuing to focus on creating affordable housing and initiatives that address the housing needs of British Columbians. Since 2017, the Province has nearly 92,000 homes delivered or underway, with actions underway to help deliver thousands more.
Learn More:
To learn more about the ending of the secondary suite program, visit: https://www.bchousing.org/housing-assistance/secondary-suite
