B.C. and Ottawa discuss cutting developer fees to boost housing construction

B.C. is negotiating with the federal government to reduce development cost charges by up to 50% in high-growth areas while ensuring municipalities receive funding for essential infrastructure. A $3.2 billion investment over 10 years aims to support multi-unit housing projects. Details on funding amounts and qualifying communities will be announced in the fall, along with plans to convert over 2,200 unsold condos into affordable housing.