Carney, Eby Unveil $5B Housing Partnership in Vancouver

In a recent CBC News report, Prime Minister Mark Carney made a homebuilding announcement in Vancouver alongside British Columbia Premier David Eby during a news conference on Thursday.

Carney and Eby Unveil $5 Billion Build Communities Strong Fund Partnership

Vancouver, British Columbia – Thursday, June 18, 2026 — Prime Minister Mark Carney and British Columbia Premier David Eby announced a 10-year federal-provincial agreement that directs more than $5 billion into local infrastructure through the Build Communities Strong Fund (BCSF).

The federal government launched the Build Communities Strong Fund in April 2026 as a $51 billion national program, with British Columbia receiving the second-largest provincial allocation after Ontario.

Housing Minister Gregor Robertson, the former Vancouver mayor, joined the leaders at the Vancouver announcement and confirmed that Build Canada Homes, the new federal agency that received royal assent this spring, will administer the condo conversion portion of the deal.

$3.2 Billion Housing Charge Reduction Targets Multi-Unit Construction

The largest single component allocates $1.6 billion over 10 years from Ottawa, matched by British Columbia for a $3.2 billion total, to cut development charges by up to 50 per cent in designated priority communities.

Officials stated the reduction will save builders an average of $40,000 per unit on multi-unit projects, directly addressing the housing supply shortage that has kept British Columbia's average home price above $900,000.

"Lowering these charges will unlock thousands of new homes in communities that have been stalled by high upfront costs," Carney said.

Health Infrastructure Receives $1.2 Billion Over Three Years

A separate $600 million federal commitment, matched by the province, will fund hospital expansions, new emergency rooms and urgent care centres across British Columbia over the next three years.

"These facilities will cut wait times and give families in growing suburbs access to care closer to home," Premier Eby said.

The funding also includes $200 million split evenly between the two governments for a new secondary school and health centre renovations in Tumbler Ridge, a community in northeastern British Columbia that has faced infrastructure shortages as its population grows alongside resource sector development.

Coastal and Transit Projects Secure Dedicated Allocations

Up to $50 million over five years will support port and community infrastructure in Terrace and Prince Rupert, two northern coastal centres identified as priorities for trade and resource development in British Columbia's growing Pacific gateway economy.

The Canada Public Transit Fund will direct $2.5 billion over 10 years to British Columbia projects, including the Surrey-Langley SkyTrain extension that will add eight new stations by 2032. This funding builds on the $852 million previously committed by the federal government to support TransLink and BC Transit.

"Transit and housing must be built together if we want to keep young families in the Lower Mainland," Robertson said.

Condo Conversion Program and One-Time Transfers Accelerate Supply

The new Canada-BC Partnership on Condo Conversion will use Build Canada Homes and BC Housing to turn more than 2,200 vacant condo units into affordable rental homes within three years, representing one of the fastest mechanisms to increase housing supply in the province's history.

A one-time $284 million federal transfer will help municipalities remove zoning and permitting barriers that currently delay new construction by an average of 18 months.

"This money removes the red tape that has kept shovel-ready projects on the shelf," Eby said.

BC Housing Minister Christine Boyle welcomed the partnership, stating the investments build on earlier federal-provincial agreements to help people move into stable homes and increase access to affordable, permanent housing across the province.

Projected National Economic Benefits Reach $95 Billion

Federal economic modelling shows the Build Communities Strong Fund will support an average of 42,000 jobs each year across Canada and add $95 billion to national GDP over the decade.

Carney, who returned from the G7 Summit in France earlier this week and attended the Canada-Qatar FIFA World Cup match at BC Place on Thursday evening, described the Vancouver announcement as the first major provincial rollout of the fund. He framed the investment within his government's broader nation-building agenda, contrasting it with the uncertainty of global trade and geopolitical instability.

"Canadians gave our government a clear mandate to build a stronger country — one where people are empowered with more opportunities, lower costs, safer communities, and homes you can afford," Carney said in a statement. "We're working in partnership with the Government of British Columbia to deliver — building affordable homes, modern transit, and new community spaces all across B.C."

Officials confirmed that similar agreements with other provinces will be finalised before the end of the summer.

Implementation Timeline and Accountability Measures

Both governments have committed to publishing annual progress reports beginning in June 2027, with independent audits required every two years to ensure transparency and measurable results. The BCSF online portal is already open for applications under the Direct Delivery stream for shovel-ready projects in 2026.

Construction on the first projects funded under the agreement is scheduled to begin in the fall of 2026 in Surrey, Richmond and Prince Rupert. The Tumbler Ridge school and health centre project will begin with removal of the existing school building as early as this summer.

This announcement represents the most substantial federal-provincial housing and infrastructure agreement in British Columbia's recent history, reflecting the cooperative federalism approach that the Carney government has made a hallmark of its first months in office.

By Alex Thompson, Staff Writer