Thank you for listening to Depictions Media Radio. Welcome to Policy and Rights, the show about DOLCOM Policy. Thank human Rights. Welcome back to Policy and right here in Depictions Media Radio, I'm your host, Michael Clogs. Okay, So, of course there is always an ongoing thing with Donald Trump's being more hatred and ruffling feathers with his rhetoric and blame me
on other people when things actually go wrong. But why don't we move forward with that because it won't be too many more weeks more until the United States actually goes to the vote in November and a final decision will be made who the President of the United States will actually be. So moving back to Canada, and we're going to hear later on from the premiere of bcd EV as he makes an announcement about housing, and we're hearing a lot about housing and how well it just
isn't enough of it. And we heard yesterday from the Parliament floor where Pierre Pouvier of course is criticizing Justin Trudeau and his housing minister for how they are actually mishandling the whole housing problem and of course they're not building enough homes that they actually have done things to mock the whole system up and given money that has
only managed to increase taxes. Okay, mister Bovier, You're still stuck on the whole tax idea either way, that people need the homes and it's it's should be a general right, not anything less than a right to have a home of your own, even if families decide to do what what would be a generational homes sort of situation. We're also going to hear today from Tonio Guerreres as.
How about you.
Makes a statement again about the Summit of the Future, the program and objectives he talked talked about it yesterday or a few days ago in a press conference, and how he wants to see the United Nations become more inclusive. So we're gonna hear a press conference about the some of their future and what that some of their future actually means to the world, and how the Summit of the Future is going to help shape how the United
Nations goes. The You in General Assembly has has actually started up and they are also taking on the mission of making the United Nations more inclusive and wanting to include more countries on the on the African continent and making their voices louder so that they can get more as humanitarian assistance for the issues that are completely revolved around that continent up into including the equal sharing of
resources that are being removed, such as lithium for batteries. Uh. And of course there is the issue about the blood diamonds and how they're being distributed and being the money being used for less than good things. While we're on the topic of terrorism, the Israeli Defense Force managed to make a number of pagris explode in Lebanon. They somehow managed to send a signal to them they blew up.
Now it's causing that signal is now causing a problem with a number of other devices, and there has been a warning issued around Hey, if you're holding one of these devices, remove the batteries before they blow up. So my question is, though, when we start diving into warfare that sends signals to devices like that and weaponizes a communication device in such a way, aren't we still reverting to terrorist tactics and ideas make people afraid to live so that we can get control of what is in
their mind. So why don't we move forward. We're going to start with the United Nations and we're going to hear from you and Under Secretary at a press conference as Guy Ryder speaks about the Summit of the Future.
Thanko, mind, Hey everyone, thank you for joining us today. We have with us the Undersecretary and our for Policy and he's also the UN lead for the Summit of the Future. Mister Guy Ryder, thank you for joining us. As you know, he's here to brief you on Summit of the Future. I'm sure you have a lot of questions on that, and he will start without some introductor remarks and then we'll turn it over to you guys. Please mister writer, thanks.
Very much, Francia, and greetings to everybody here. Thank you for your interest in the Summit of the Future. Let me give you a brief sort of state of play on the summit and why we think it is so important. You know, the summit is a matter of days away now, takes place on the twenty second and the twenty third of September, preceded by a day and a half of action days where we're bringing stakeholders into the building to
discuss irrelevant issues. We're expecting in excess of one hundred and thirty heads of state, heads of government to attend the summit, and in the action days we have registrations for in excess of seven thousand NGOs, academics, private sector representatives. We think this is indicative of a very high level
of interest in the summit. And let me, turning to the substance of the summit, say that we believe that the stakes are high, that the issues on the table of the Summit are of the greatest importance to not just the UN system of multilateralism, but to the future
of our member states as well. And let me tell you where we stand in the negotiating process, with a reminder that the Summit will be adopting three outcome documents, a Pact for the Future to which will be annexed to other documents, a Global Digital Compact, and a Declaration on the Future Generations. The overall objective of the summit, and people ask this question quite frequently, is very simply stated.
The idea of the summit is to render the United Nations a multilateral system, more effective in its the fulfillment
of its mandate, make it more participatory, more networked. This in the face of the very clear global challenges that we face, the fact that the world has changed and is changing rapidly, and the reality that many of our governance structures date back to the creation of the United Nations when it had fifty one member states instead of the one hundred and ninety three member states who will be gathering at the summit itself. Now, substantially, what are
we going to find in these outcome documents? What are the issues being addressed in the Pact for the Future itself, the mother document, if I can call it that. There are five chapters, and I'm not going to take you through them in grinding detail, but simply to highlight what seemed to be us some of the most important issues
at stake. We have a major section on sustainable development and financing of sustainable development, very clear signal that part of the objective of this summit is to complete and to improve our business around the twenty thirty Agenda. This is an accelerator for the twenty thirty Agenda for Sustainable Development, with an important access on financing, which is a recurrent
theme I would say throughout the summit process. Secondly, we have a section on Peace and Security, designed in accordance with proposals presented by the Secretary General under the title of a New Agenda for Peace to address the whole spectrum, the whole continuum of peace. Conclusions that would address root causes, place an emphasis on prevention, look at an update of our peacekeeping peace building operations, but also address critically, I
think new and emerging conflict domains. So think of the application of new technologies in lethal weapons, think of biological hazards, think about the dangers of the militarization of outer space. All of these are being addressed. A third chapter is on science, Technology and innovation, and of course this is where the annex on the Global Digital compat comes into play. If I could put it in a word or a sentence, the objective of the Global Digital Compact is to make
technology work for humanity equitably. We are aiming at closing digital divides, expanding inclusion in the digital economy, creating an inclusive, open, safe and secure digital space, working on equitable data governance, and this has perhaps attracted more attention anything else. Creating the systems of governance of artificial intelligence that will benefit humanity. A fourth section is on youth and Future generations. There is a very strong emphasis on youth throughout the summit.
And in the action days that precede it, and the sections on Youth and Future Generations two quite distinct groups. I would underline to you it's firstly to increase the participation opportunities for youth in decision making nationally and the new n system, and to address the key social economic
challenges facing young people. A Declaration on Future Generations is intended to codify what is happening in many of our member states, the need to ensure that decisions we take today take into full account the needs and interests of future generations. And the last chapter and it captures a lot of different issues is around them transformation of global governance. This is a very wide ranging area of the Pact. It addresses Security Council reform and we have the potential
to take important steps forward on Security Council reform. It addresses a revitalization of the General Assembly and ECHOSOC. Critically, it contains extensive language at the current state of negotiations on reform of the international financial architecture. I would say one of the most important and certainly one of the most contested areas of the Pact for the future and goes on, for example, into the governance of outer space issues, new approaches to outer space traffic, a debris and of
course this issue of militarization. I think you will see from this that we have a very ambitious agenda. The ambitions for this summit have always been high. What I think is very encouraging ten days out from the summit is that the negotiations which are continuing are continuing on documents which meet that high level of ambition. Now the negotiations are incomplete, the member states are working hard to reach the necessary consensus on these documents. We need consensus
for adoption. But I think there is good reason to be confident that the successful conclusion of these negotiations will produce a pact with two nx's that will truly make a difference. This is something which is not only worth having, it is something that we need to secure for the future. A last word, and I will conclude the action days that precede the summit itself in consonants with the efforts we have made from the outset to ensure the involvement
of multi stakeholders in this process. There was a major civil society conference in Kenya in May, but our include also private sector academia, the scientific community. We're bringing them together for a day and a half on the Friday before the summit. We will have a you quite deliberately, kicking off with a youth lead session and then going into a session which reflect the main themes of the summit.
Messages from these action days will be brought to the attention of the summit as well, So we hope this creates a cohesive set of events that will lead us where we need to get. I will leave it there. Florencian of course, very happy to try to respond to your questions.
Okay, so I'll start by taking questions in the room and for those asking online, yes, we will take questions online as well. We'll start with Emilie.
Please, thank you very much for the briefing, Amli Boutolier from hp AND News Agency. You said the stake are high and the event has a big name, the Summit of the Future. The document has a big name, part of the future. Butbjectively reading the outcome document, even if you say that it could be improved a little bit in the next ten days, it's a list of commitments
that are commitments to things that already exist. Recommitment to previous commitments, and a lot of experts, observers and diplomats basically describe it as not as a visionary document. So how do you expect it to make a real change.
Well, respectfully, I disagree, disagree with that characterization the documents, and it doesn't correspond to what's on the table. It isn't a simple recommitment to things that have been done in the past. Look at the language on draft language. Everything I say is caveatd by the fact that negotiations are incomplete. The language on International Financial Architecture reform has not been on the table before, just not the case.
The language on Security Council reform is seen by those who have formulated it in the IGN process as groundbreaking, as potentially the biggest step forward since the nineteen sixties. The commitments around peace and security. Clearly a review will be coming on our peace operations, but we are addressing emerging new domains of conflict in ways which they've not
been addressed before. It's simply not the case. So the idea that we're just going back over ground that's already been covered, I just don't think stands up to examination. But we have to secure these results. So I'm going to repeat what I said. This is a document which retains, I think a very commendable level of ambition. There were things everybody would like to have, not everybody, but some people would like to have more of, some people like
to have less of. That is a nature multilateral negotiations. But I think that what we had before us is something which is potentially very important if I look beyond the Pact itself to the Global Compact, Artificial intelligence governance has not ever been addressed in a way that's addressed in the Global Digital Compact. Commitment to future generations has never been addressed. This is not simply covering well trodden ground.
It's not the case.
Deji.
Yes, Miss Ryder. First question I ask everybody, so you're the next one. Can you can you explain what I think this is totally good? The question for you? Can you explain what the Summit of the Future is to our audience in a very interesting way because we know you just explained it. But how to attract I mean normal people attention to other politicians. And secondly, I disagree, what respectfully with your disagreement, but well, we we saw all the we saw all those agendas and actions STG
Acceleration Agenda, New Agenda for Peace. We heard a lot of those in Reform of the Security Council. But let me put that aside. If we if we have this Pact of Future, how how much do we can we expect the implementation of this very important document? And third, this is obviously a watered down, compromised version of Pact of the Future. How far away is this from secrest generous imagination or I mean expectation. Thank you.
I always tried to say things in an interesting way, not just for the people in this room, but for the world in general. Look, there is always is there not this thought that whatever happens in this building and in multilateral negotiations, it's rather distant from people realities everyday life. I mean, that's the nature of multilateral negotiations. So you have to scratch beneath the surface. You have to go underneath the formalities and sometimes language which is not easily accessible.
But if we succeed in getting agreement from one hundred and ninety three member states on actions that will secure governance of new technologies, that will spread benefits much more widely through inclusion, through connectivity, through the governance of artificial intelligence. If we're able you've heard it before, to accelerate SDGs, if we're able to revamp the United Nations peace operations, if we are able to initiate the changes that will
make the Security Council more effective. Yes, this will influence people's lives when it happen the day after the pact is gaveled. No, it needs and you pointed to the key here, it needs implementation. It needs implementation, and I think I have to recognize, looking at the content of the pact, which I still want to commend to you as a very positive thing, that a great deal depends on what happens with the commitments that to make the implementation.
So I follow you entirely that everything depends on the level of implementation. You've made the point Security Council reform. We've heard it before. We've heard it before, but it's not the questions. It's the answers. There are new answers to the questions contained in this pact, and that is what makes it not just worth having, but very important to have. A sorry you can judge for yourself via
a very easy process. Last year, the Secretary General published eleven policy briefs, which were his proposals to the summit. This is what he ideally would have liked to see, and he was very clear. He said, these are what I believe are the proper ambitions we should reach for, and he made those proposals in full cognizance of the fact that not all of these would meet with the
agreement of member states. I leave it to you to take those policy briefs, look at the pack for the future as we hope it will be adopted in ten days time, and measure the gap. They are not identical. It would be futile to say that they are. But what is interesting is that the contours and structure of the pact follow very clearly the content of those policy briefs. So the SG has set the content a gender in a very very icink successful way.
Okay, next question, a friend then.
Gabriel, Thanks Larenthea, thank you, mister Rider. Could you please two quick questions. You just said that there's been groundbreaking language on Security Council reforms. Could you please say what is groundbreaking about the new language? Last time I checked, I may be completely mistaken, but the only thing that came out in the document is that there will be an office here at the Secretariat that deals with Security Council reforms and is there something else, what is groundbreaking
about it? And second you said, and we know that the negotiations are not over yet, could you say something about what the remaining sticking points are and the hurdles to the unanimity, which you say is very needed.
Yeah, let me take all questions in reverse order. My definition, we need a consensus because that's what our modality is resolution. This is not a matter at the discretion of anybody. We need to have everybody on board and that is of course a high bar to get over. Negotiations on all three of the outcome documents are continuing. They are
quite intense. I think there's a strong focus on different parts of the pact for the future, where I have to recognize there are a significant number of issues that have still to be resolved.
Now.
It would not be helpful for me to go into the detailed of areas of contention because it might prejudice I think the process in a way I would not wish to do. But we are aware that there are issues from the beginning, partly because they are so important, are very difficult reform with international financial architecture is one the manner in which climate and climate finance is addressed.
Because we're meeting on there's a contextual problem. We're meeting on the eve of COP twenty nine, and we're not trying to do the job of COP twenty nine, and that creates a contextual complication. Some of the areas of disarmament, Nuclear disarmament in particular also difficult. That's regrettably, that's not an exclusive list of difficulties. But what I can say is that the co facilitators on the pact, that is, the governments of Germany and Namibia, are convening very tensive
negotiating processes as we speak. By the end of this week, we hope to have another draft of the pact, and the intense would be for that to meet with the type of consensus that we require. Now very properly and understandably, you want to know a little bit more about why the language on Security Council reform is important. Now, let me say groundbreaking. I think groundbreaking is a word I will stick by.
It's not just.
About trading an office. It's not about that, it's not even part of really of what matters. There is a commitment to addressing historic injustice against Africa, improving representation of Asia, Pacific, Latin America on the Council, new language. There is a commitment to the enlargement of the Council to be more representative of current UN membership. There is commitment to intensify efforts to find an agreement on category of membership, and
the intention to develop a consolidated model of reform. Now this might sound rather esoteric, This would be one of the difficult things to explain to the person in the street, but for those engaged in this type of process since the nineteen sixties, and I think that the co facilitators of negotiations Austria and Kuwait recognize this as groundbreaking language which appears appears at this point to have the broad consensus subject and confirmation of our member states. So I
think it is fair, it's not hyperbole. It is fair to say that this is breaking new ground.
Okay, we'll go to Gabriel and then I'll take a couple of questions online.
Thank you Florencia, Thank you mister Rider for briefing. It's very helpful. Two questions Gabriel Alisondo from Aldisi English. Two questions, one as, when the summit is over, how will you judge if it was successful or not? By what parameters will you use? And my second question is on AI. Wanted to follow up on that. Can you just flesh out a little bit more on the language related to AI and specifically why the AI issue is so important to be put in the agenda. Thank you.
Your first question, which is a good one and almost impossible to answer, is I mean, how would we judge if this has been important? I would say that if, judging from where we stand today, the key issues that I've tried to outline to you, which have been sort of built into the pact process from the outset, are able to be adopted in something close to the form they are in now, that will be important and worth having.
But there is a caveat attached to all of this that language has to lead to action.
Now.
It is not by accident that the Pact has been framed in terms of areas of action. I would underline the word action, But adopting a document is not an action in itself, is a commitment to action. So the success of the summit, I would say, would be difficult
to evaluate more than provisionally. As a gavel comes down on the end of the summit, I think we ought to have this conversation one year on from there to see the extent to which this has influenced the behavior of member states and the dynamics of the multilateral system.
Wi okay on Half and Squalwen, Chris Clay a Quaich Nomi to Noyapen and Cii and Sequelro to Squial's deceits. I'm really happy to see that you all came here today, all of you, my friends and family, and Sequalia Kusham and Snam. My ancestral name is Sequali Yeah, also known as an Wanik, one of the Squamish nation counselors and
elected spokesperson for the nation. And I'm going to be m seeing today and i just really want to thank everyone for being here and just going to ask us all to open our hearts and minds and hands quickly because I'm going to say chen quin Mentomi ka ka Kanic Chase the Jones and so Tonyapen mon Month Squalwen to Squiles de seats, asking Creator to watch over all your children that are gathered here today and help us with our squalen the feelings in our hearts and minds,
our total being emotional, mental, physical and spiritual health and wellness, and asking prayers Creator to have a yet one halt, seats up and excellent work today. I'd like to know and invite to the Frontier Hollas Alec Dan from Muskwiham Indian Band to Spaunston Calvin, Charlie Dawson from the Squamish Nation and Hannas William George Thomas from the slable Tooth Nation to come join us in Frontier, and they're going to open us with a song from each of the three nations.
So msty.
P y.
H h.
Uh oh.
Oh oh a a a a.
A a a.
A oh by bye bye.
Oh bye bye bye.
Oh oh oh b b.
Nk wament me up kalay S Goonston Hannahs. Joining our celebrations today are Yukioku Chief Wayne Sparrow from muskoem Syoking Councilor Wilson Williams from the Squamish Nation, Curtis Counselor Curtis Thomas from the Slaveytooth Nation, as well as Premier Eby and Mayor Ken sim And I also want to acknowledge today that we have many of our MST Nation members, counselors, elders.
I have to acknowledge my cousin Cockleton Cum from Squamish Nation who and the many others who worked on this initiative.
Before we got to today.
And also want to acknowledge MST Development Corporation, the BC Government employees and other leadership, other leadership from the BC Government that are here and all the many people. And this announcement today is a really special and historic day as it is the result of, as I said, years of advocacy and hard work that got us to this point where we're at today. And I'd like to now introduce Premier David Eby of the Government of BC to share some words with us.
Thank you so much for the welcome to the territory for the opening songs. It's great to be with everybody today. We're actually going to start with a bit of a gift presentation for the representatives of the Musclian, Swamish and Slave are here today. I'd like to begin with a gift for Chief Wayne Sparrow for the Musquam Indian Band. Chief Sparrow has been absolutely instrumental and ensuring that this announcement today was able to happen. Thank you for your
vision on this, Chief. We're honored to present you with the Minister here at Coming Up, Chief. The Minister has a bent wood box and it's by Joe Campbell, a Co Salish artist. On the box is an image of a bear, and the artist advises us that the bear represents courage and strength, and that's certainly two attributes that helped us get across the line here, Chief, and in your leadership. So thank you very much for your work on this.
Golf club.
You like golf, so that's okay. The next gift is for Counselor Wilson Williams, who's representing the Squamish nation. The commitment of the Squamish nation to supporting people through affordable housing certainly can't be questioned, and I want to really recognize the leadership of Squamish on that. Counselor Williams were presenting you with a spindle and whirl which is by
the Co Salish artist Roger Charlie. The image on the world is a wolf, which we're told represents family and togetherness, which is what this project will be all about, bringing community together, bringing families together. So thank you for your work on this. Thank you squamsh nation. Yeah, and our final gift is for slave to the First Nation, represented today by Counselor Curtis Thomas and Chief Gen Thomas has
been very involved in this project as well. I want to thank you for your steadfast support on this project, your commitment to delivering housing for people.
Uh.
And the image that Roger Charlie put on this one is an image of an eagle, which we're told symbolizes great vision and strength and the ability to go further and bridge different worlds. And I think that today's announcement is really all about that, all of us working together to deliver amazing and affordable housing for people in this province. So thank you very much for your work on this.
You're speaking now utility.
To do their gifts after sounds good. Sequalia is just coaching me through here. We'll get there. Thanks for the advice. Great to see everybody here today. And I was pinching myself a little bit in the car on the way here. I'm so excited to be here. So much work has
gone into today's announcement by so many different people. City of Vancouver within the provincial government, our team in the public service, the First Nation's leadership and their teams, and the results I think are remarkable and I'm hopeful show the way forward on one of the most vexing issues that people face, not just some British Columbia, but red across Canada is the issue of finding a home, making afford for themselves, for their families, to build a good
life for themselves. We're just two days, amazingly from the start of the writ period, the election period. I don't know if there's enough Pumpkins spy in the world to get us through it, but we're going to do our best. And despite that, the work can't stop on these critical issues, which is why I'm so excited to be able to share this announcement with you here today. The vision that we have for the province is that everybody should be
able to find a decent place to live. We should be able to finish the day if they're working hard, following the rules, that finished the day further ahead than they started the day, not further behind. And part of that critical piece of feeling that security and feeling that connection to community is having a decent place to live. It is fundamental to our economy, to the success of our economy, but most importantly to the success of British Columbians.
For too long, the vision of home ownership, the idea of home ownership has been out of reach for way too many people, people who earn a decent income, priced out of the market and not seeing any path to being able to own a home. We have worked hard with our partners in municipal government, with First Nations, partners, with the private sector, with a nonprofit sector to turn that around, and today's announcement is part of that work.
We have an action plan in place that will deliver experts say about three hundred thousand attainable middle income housing units across the province by getting a lot of the process and the red tape out of the way to build. We've legalized town homes, We've legalized side splits and the ability for people to build more than one home on a single family lot, creating that entry point for people into the housing market. We're seeing some moderation in real
estate prices. Where I'm most heartened is to finally see rents starting to come down in the province while nationally our rents are still trending up. There are lots of possible explanations for this, but I can assure you that the report about our work on Airbnb that came out yesterday, it says that that helped produce rents here in the
City of Vancouver. The fact that we're building four times more rental housing than the Province of Ontario, the fact that we're addressing vacant homes by opening them up for rent through the speculation tax. All of these pieces are contributing to that work, as well as the more than ten thousand units of student housing we're delivering across the
province to take pressure off the local rental market. I think the contrast is quite stark with the proposals for where this province should go on housing in the upcoming election. On the one hand, we're committing to and have committed to, doing everything all of the above, addressing the toxic demand in the housing market, the speculation, Airbnb, all those other pieces, as well as the supply and making sure that the homes are getting built that we need in the province.
And I could spend the whole morning and I won't I promise, talking about how we're going to address this housing crisis for people, how we're going to support them
with the biggest challenge that they face. On the other hand, John Russad, who is committed to going back to the old status quo on housing, to eliminating all of these initiatives, to getting rid of the speculation tax on vacant homes, to opening up homes to speculators again through the Airbnb program, to putting red tape and barriers in place, to building the attainable middle income housing that we need. When he was asked what part of the government's housing initiatives he
would keep, he had a two word answer, not much. Well, that's about the same answer that he would give to the question of British Columbians asking what are you going to do for me to get into attainable housing? Not much. We have a different approach. So enough of Enough of that, Let's talk about why you're here and why I'm so
excited about what's happening here today. What has been envisioned by the leadership at Musclium, Squamish and Sliotith for the use of this land, and what we have been able to deliver here together in partnership with the City of Vancouver and the Nations. Today I'm announcing that we have partnered with the MST Nations to create twenty six hundred homes on this site, the Heatherland Site, that middle income
British Columbians can actually afford. The way we are delivering this for middle income British Columbians to ensure affordability involves really all hands on deck. It involves the City of Vancouver fast tracking the permits and the zoning so that we can get built quickly on the site, reducing the holding costs. It involves the Nations bringing the land to the table so that we can do this work together.
And it involves the Province of British Columbi with an innovative financing arrangement for the home buyers will be moving into these homes where government initially finances and covers forty percent of the market price, allowing homeowners to be able to buy in here for sixty percent of market value. Now this bear with me gets a bit technical here, but this is where the magic is. The forty percent contribution from government is not a grant, it's not an
ongoing subsidy. It is financing. The forty percent is repaid at the end of twenty five years or when the owner sells. The government also the public participates in any
appreciation in the value of the property. What this means is that what we have created here together is a financing too that protects taxpayers, that minimizes impact on public budgets, and yet at the same time delivers affordable housing now and when the loan is paid back by the homeowner, protects affordability in the future, creates the possibility of that money going back into further attainable housing initiatives. The money is not used up, it catalyzes further attainable housing into
the future. The units are sold as ninety nine year leases strat of leaseholds with Musclim, Squamish and Slayertoth Now. The unit prices will be determined at the time that they actually go up for sale. But if they were for sale today under current marketing market conditions, a studio apartment on this site would sell for six hundred and
twenty thousand dollars. Under this program that we're announcing today, that same studio apartment will sell for three hundred and seventy two thousand dollars on this site today the market price for a two bedroom condo would be one point three million dollars. Under this program that we're announcing today, that will be seven hundred and eighty thousand dollars. In terms of who will qualify to be able to buy these homes, there will be a priority placed on first
time home buyers. There will be strict criteria around income and asset ceilings for buyers. I want to assure you that we will have strict rules and screening measures in place, and anyone who thinks that they can gain the system when we detect that, there will be serious consequences. So there's no point. This will be dedicated for people who help make our communities grow, who have been priced out of the market and would not have any other opportunity
to get in in a reasonable way. The registration for this project will happen in the spring and construction will begin soon after. Now, the piece about this that I really like is that by doing this work together, we are creating a new model of delivering attainable middle income housing. And it is not exclusively government money that needs to
participate in this way in attainable middle income housing. This creates the possibility for patient capital with foundations and other groups to potentially provide the financing support as a social
purpose investment for their funds. The possibility of leveraging not just the strength of government to deliver attainable housing for people without impairing government budgets, and also creating a pathway for those that have that capital and want to assist in delivering attainable housing for people, but have commitments that they need to meet around return on their investment create the possibility that this could be leveraged on many many projects.
Keep in mind that these projects are in the most expensive real estate market in Canada, one of the most expensive real estate markets in the world. That we are delivering units at forty percent or forty percent below market. This can be replicated across British Columbia in markets that on are significantly less affordability challenge, delivering significantly more affordability for people right across British Columbia. I'm so excited about
the possibility of scaling this right across British Columbia. We've delivered a number of important changes that are showing up in actual results in the province that I'm proud of. Eighty four thousand new homes delivered or underway in the province with government support financing, from social housing to student housing, you name it. We're leading Ontario and rental housing construction by nearly four times, and we're seeing impacts on rents.
But I am nowhere near satisfied until all British Columbians have the opportunity to get into attainable housing that they and their families can afford. Our work is not done and we will not rest. But today is a wonderful day and I feel us taking one step closer to that goal. Thank you very much.
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