BUDGET 2023: BC government to buy $400 million of land near public transit for housing

The Government of British Columbia is making its first major push to strategically invest in transit-oriented development as part of its housing plan.

During today’s 2023 provincial budget reveal, BC finance minister Katrine Conroy announced $394 million in new funding specifically towards acquiring lands along major public transit corridors to build new affordable and market housing buildings.

This funding will “help buy land for thousands of new homes near future transit development projects,” such as near the future SkyTrain stations of the Millennium Line Broadway Extension and the Expo Line Surrey-Langley Extension.