New Regional Homebuilding Innovation Initiative will advance innovation and resilience in the homebuilding sector 

VANCOUVER, BC, Nov. 8, 2024 /CNW/ – With vibrant communities, a strong economy, world class academic institutions and new business opportunities, British Columbia is growing quickly. This growth has significantly increased demand for housing, putting pressure on the local housing supply. In this changing environment, British Columbians need innovative approaches to homebuilding. 

PacifiCan is one of several organizations working toward increasing the housing supply in British Columbia. Under Canada’s Housing Plan, the Government of Canada is taking action to address housing needs across the country.

Building tomorrow’s housing innovations, today

Today, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced a new initiative that will help expand homebuilding options in B.C. and foster industry innovation to better meet the demands of our growing province and changing climate. As British Columbians look for solutions to alleviate local housing pressures, the Regional Homebuilding Innovation Initiative will propel innovative homebuilding ideas.

Through the Regional Homebuilding Innovation Initiative, the Government of Canada will invest $50 million over two years, beginning in 2024, to support innovation in the home construction sector and its supply chain. In British Columbia, PacifiCan will deliver $7.1 million in funding through this initiative.

The Government of Canada’s investment will advance innovative homebuilding solutions and boost homebuilding efficiency in B.C. and across Canada. This includes projects that advance modular and prefabrication technologies and approaches for more resilient construction.

Organizations in B.C. can now visit PacifiCan’s webpage to learn more about this initiative.

This initiative, an important part of Canada’s Housing Plan, is helping to build tomorrow’s housing solutions today. The Government of Canada is committed to helping businesses innovate and increase productivity in the housing construction sector, creating opportunities to build the homes Canadians need now and into the future.

Quotes

“British Columbians need innovative, sustainable approaches to homebuilding to meet increasing demand and to build climate resiliency in our communities. The Government of Canada is working hard to support businesses and increase productivity in this sector so that every British Columbian has a place to call home. The new Regional Homebuilding Innovation Initiative will bring us one step closer to that goal.”

-The Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada

“Our government is taking bold action to address Canada’s housing crisis through innovation and strategic investments. The Regional Homebuilding Innovation Initiative will inject $50 million into modernizing and expediting homebuilding across the country. By supporting cutting-edge technologies like modular homes, net-zero 3D printing, and mass timber construction, we are building an innovative, efficient, and sustainable future for Canadian homebuilding. This initiative will boost productivity, strengthen supply chains, and ultimately help create more affordable housing options for Canadians.”

–The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

Quick facts

• On April 12, 2024, the Prime Minister, alongside the Minister of Housing, Infrastructure and Communities, announced the federal government’s housing plan, Solving the Housing Crisis: Canada’s Housing Plan.
• The Regional Homebuilding Innovation Initiative is an important part of Canada’s Housing Plan that will provide support to pursue innovative approaches to homebuilding.
• Delivered by Canada’s Regional Development Agencies, the Regional Homebuilding Innovation Initiative is providing direct support to help enhance the local housing supply chain and advance innovation in the residential construction sector so that Canadians have a place to call home, sooner.
• PacifiCan will deliver $7.1 million under this initiative over the next two years, starting in 2024-2025.

Associated links

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SOURCE Pacific Economic Development Canada

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