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Ottawa Launches $13B Push for Affordable Housing Through Build Canada Homes
Prime Minister Mark Carney has unveiled Build Canada Homes, a new federal agency tasked with accelerating affordable housing construction across the country. Backed by a $13 billion budget, the agency will oversee the development of 4,000 housing units on six federally owned sites in Dartmouth, Longueuil, Ottawa, Toronto, Winnipeg, and Edmonton.
The initiative aims to tackle Canada’s housing shortage by offering financial incentives to builders, reducing upfront costs, and streamlining the permitting process. Carney emphasized that unlocking federal land for housing will help lower construction expenses, ultimately reducing rents and home prices for Canadian families.
Build Canada Homes will prioritize modern, cost-efficient building methods such as modular and mass timber construction, enabling faster year-round builds. The plan also includes a $1 billion transitional housing fund to support people at risk of homelessness, and a continued commitment to the federal rental protection program.
Former Toronto deputy mayor Ana Bailão will lead the agency, which is expected to break ground on its first projects next year. Carney described the effort as a “supercharged” approach to housing, designed to deliver homes at scale while boosting the use of Canadian-made materials.
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