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On Sunday, September 14, Prime Minister Mark Carney launched a new federal agency, Build Canada Homes, to support the construction of affordable housing. This agency will work with other orders of government, including municipalities, to build deeply affordable and community housing for low-income households. While the focus is primarily on non-market housing, the agency will also partner with private sector developers to build more affordable homes for middle-class Canadians.
This new approach relies on three pillars:
- Partnering with industry, others orders of government and Indigenous communities to build affordable housing at scale and at speed.
- Deploying capital, creating demand, and harnessing innovative housing technologies to build faster and more sustainably.
- Adopting the government’s new Buy Canadian policy and prioritizing projects that use Canadian lumber and other Canadian materials.
Former City of Toronto Deputy Mayor Ana Bailão has been appointed as the Chief Executive Officer of Build Canada Homes.
The government has said that Build Canada Homes will immediately begin engaging with partners, including municipalities, and that further measures will be announced in Budget 2025 to lower costs for builders. We will continue to monitor this initiative, especially for opportunities for municipal involvement.