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2d ago

Carney Launches Build Canada Homes, Unveils First Public-Land Projects in Six Cities

Designed to accelerate non-market supply, it pairs public-land builds with low-cost financing.

A row of houses under construction is seen in a housing development in Alliston, Ontario, north of Toronto, January 16, 2025. REUTERS/Cole Burston/File Photo
Prime Minister Mark Carney greets one of the youngest attendees of the event who was wearing her hard hat after the press conference Sunday.
Prime Minister Mark Carney launched Build Canada Homes, a new federal agency with $13 billion in initial funding to rapidly scale up affordable housing construction, preserve rental units and tackle homelessness across the country. The Prime Minister made the announcement near his own riding, along Merivale Road, where he hosted a media conference backed by modular homes built by Caivan, on Sunday, Sept. 14, 2025. Ashley Fraser/Postmedia
Construction workers work at the site of a condo tower under construction, in Delta, B.C., on Wednesday, July 2, 2025. The British Columbia government is loosening the rules for payment of development costs in a bid to jump start home construction. A builder will only be required to pay 25 per cent of development costs at permit approval with the rest due at occupancy of the project or within four years of the original 25 per cent payment.

Overview

  • The government is launching a national housing agency that will start by developing projects on public land in Dartmouth, Longueuil, Ottawa, Toronto, Winnipeg and Edmonton.
  • A transitional and supportive housing initiative will accompany the rollout, with wrap-around services delivered in partnership with other levels of government.
  • Build Canada Homes is tasked with acting as a developer, offering low-cost loans and advancing construction innovation such as modular and prefabricated methods while partnering with providers focused on long-term affordability.
  • Non-profit housing groups welcomed the emphasis on non-market supply but urged the government to move quickly rather than wait for the full organizational build-out.
  • CMHC reports flat housing starts across seven major metropolitan areas in the first half of 2025, highlighting risks to future supply as trade tensions and slower economic activity weigh on construction.