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Canada’s housing crisis is set to receive a major boost with the launch of Build Canada Homes, a new federal agency tasked with accelerating affordable housing development.
Prime Minister Mark Carney announced Sunday that the agency will oversee the construction of 4,000 homes on six federally owned sites across the country, supported by a $13 billion budget.
The homes are planned for Dartmouth (N.S.), Longueuil (Que.), Ottawa, Toronto, Winnipeg, and Edmonton, with construction expected to begin next year.
“The core challenge in Canada’s housing market is that it’s simply too hard to build,” Carney said during a press conference in Nepean. He noted that unused government land will be repurposed for housing, in addition to the 88 properties already listed in the Canada Land Bank.
The new agency will also:
Offer financial incentives to lower upfront costs for builders.
Help reduce rents and new home prices for families.
Speed up permitting by approving bulk housing projects.
Manage the government’s rental protection fund, which helps community housing groups keep private rentals affordable.
Invest $1 billion in transitional housing for people at risk of homelessness.
Carney emphasized that Build Canada Homes will use cost-efficient, modern methods like factory-built, modular, and mass timber construction to accelerate delivery. In Nunavut, for instance, 700 homes will be built through a partnership with the Nunavut Housing Corporation, with about 30% produced off-site and shipped north.
The agency will also follow the federal government’s new “Buy Canadian” policy, ensuring local materials are prioritized to strengthen the economy.
Ana Bailão, a former Toronto deputy mayor and community housing advocate, has been appointed as CEO of Build Canada Homes.
“Build Canada Homes is about making it faster and cheaper to deliver safe, affordable housing for Canadians who need it most,” Carney said.
