Carney-Eby Strike $5B Housing Pact: 50% Development Charge Cut, 2,200 Condo Conversions, and Surrey-Langley SkyTrain Funded

Prime Minister Mark Carney and B.C. Premier David Eby formalized a sweeping housing and infrastructure partnership on June 18, 2026, committing more than $5 billion in federal investment over ten years through the new Build Communities Strong Fund. The agreement includes $1.6 billion in matched federal-provincial funding specifically earmarked for multi-unit housing development, alongside a one-time $284 million federal payment designed to reduce barriers to new construction. A centerpiece of the deal allows for up to a 50 per cent reduction in development charges on multi-unit housing projects—fees that developers typically pass through to buyers—while launching the Canada-B.C. Partnership on Condo Conversion to transform over 2,200 vacant condos into affordable homes through Build Canada Homes and BC Housing.