Secondary Suite Incentive Program Pilot

The British Columbia government is launching a three-year pilot of the Secondary Suite Incentive Program, which offers forgivable loans of up to 50% of renovation costs, up to $40,000, for homeowners to add a secondary suite or accessory dwelling unit on their property. The program aims to create thousands of affordable rental units across the province.

• The program will be available starting May 2, 2024, to homeowners in most B.C. municipalities and regional districts.
• Eligible homeowners must have a combined gross annual income of less than $209,420 and a property value below the homeowner grant threshold ($2.15 million in 2024).
• Approximately 1,000 homeowners per year will receive the forgivable loans, adding 3,000 new rental units at below-market rates.
• The province has also passed legislation to allow secondary suites and accessory dwelling units in every community in B.C.

• Funding: Budget 2023 allocated an additional $91 million over three years to support the Secondary Suite Incentive Program pilot.
• Eligibility: The program will be available in most incorporated municipalities and 15 regional districts, with the potential for further expansion in the future.

• Premier David Eby: "This new incentive program makes it possible for homeowners to add a rental suite to their home, creating thousands of affordable rentals."
• Housing Minister Ravi Kahlon: "This program will add thousands of long-term, below-market rental homes to urban and rural communities across B.C."