Ottawa investing $1.6B over 10 years toward housing in B.C.

1 hour agoNewsDuration 0:42

Canada and B.C. have reached a landmark housing agreement aimed at building more homes in the province over the next decade. Prime Minister Mark Carney and Premier David Eby announced Thursday that the two governments will spend $1.6 billion each, for a total of $3.2 billion, to bring down housing costs and modernize infrastructure across the province. The agreement aims to reduce development charges, convert vacant condos into affordable housing and invest in community infrastructure such as schools and hospitals.