BRITISH COLUMBIA – The Province has announced that the pilot secondary-suite incentive program will no longer be accepting applications after March 30, 2025 due to financial constraints, also stating that the federal government is running a similar program.
Launched in 2023, the three-year pilot program was designed to provide forgivable loans to eligible homeowners constructing secondary suites or accessory dwelling units on their properties.
“With the federal government committing to deliver a national secondary-suite program, we are ensuring that we are not duplicating programs so we can use those funds for other programs that give people more housing options,” stated said Ravi Kahlon, Minister of Housing and Municipal Affairs.
Funds from this program will be directed toward existing and future BC Housing initiatives, including BC Builds.
In 2024, the federal government announced plans for the Canada Secondary-Suite Loan Program, which will offer homeowners low-interest loans of up to $80,000 to develop secondary suites. British Columbia homeowners interested in these projects may be able to apply for federal funding once the program is operational. Applicants who have already begun the process through the provincial Secondary-Suite Incentive Program—with all required permits and cost estimates secured—can continue to submit applications until March 30, 2025.
Business Examiner Staff
