The only thing holding back the post-secondary institutions in British Columbia from building out extensive on campus housing development is a provincial restriction on public entity debt. Without that restriction, post-secondary institutions would be building housing and pulling post-secondary students out of the rental market and onto campus, opening up those rental spaces to the rest of the population.
Based on research compiled by the Alliance of British Columbia Students in this document, it is reasonable to believe that should the government relax the restriction on debt for university residences, the business case exists for that to unlock over 20,000 new residence spaces in British Columbia. Within those 20,000 would be 13,500 new residence units in Metro Vancouver alone.
Due to the crisis level that the housing market has reached, in order to accelerate the development of on-campus housing, the provincial government could fund the initial costs of development, covering 10% of the costs of new housing.