The B.C. government is introducing new measures to speed up housing construction and lower upfront costs for developers. Starting January 1, 2026, homebuilders will have more time to pay development-related fees and expanded access to flexible financial tools, helping them get projects off the ground faster.
Changes to the Development Cost Charge and Amenity Cost Charge regulations will allow builders to use on-demand surety bonds provincewide—something currently available in only 40 municipalities. Unlike traditional bank letters of credit, these bonds free up developers’ access to capital, helping move more housing projects forward.
Builders will also see extended payment timelines. Instead of paying all charges within two years, developers will now have up to four years, paying 25% at permit approval and the rest upon occupancy or within the new time frame.
The reforms aim to reduce financial barriers and ease housing supply bottlenecks at a time when construction costs and interest rates remain high. The province says the changes are part of its broader strategy to support faster delivery of affordable homes across B.C. and were developed in consultation with industry groups and local governments.
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