[This is Part One of a two-part series on the launch of Build Canada Homes, the Government of Canada's new housing entity. Part Two is about Build Canada Homes CEO Ana Bailão.]
On Sunday, Prime Minister Mark Carney announced the launch of Build Canada Homes, a new federal housing agency that doubles as the new government's flagship response to the housing crisis.
"Canadians are in a housing crisis," said Carney in a press release. "Despite recent improvements in several cities, far too many Canadians — particularly young Canadians — are struggling to find homes they can afford. Canada's new government is stepping up with a bold new approach and unprecedented investments to increase the housing supply in Canada."
"Build Canada Homes will help fight homelessness by building transitional and supportive housing — working with provinces, territories, municipalities, and Indigenous communities," the press release states. "It will build deeply affordable and community housing for low-income households, and partner with private market developers to build affordable homes for the Canadian middle class. Build Canada Homes will transform public-private collaboration and deploy modern methods of construction, as it catalyzes the creation of an entirely new Canadian housing industry. It will leverage public lands, offer flexible financial incentives, attract private capital, facilitate large portfolio projects, and support modern manufacturers to build the homes that Canadians need."
Build Canada Homes is launching as a Special Operating Agency within Housing, Infrastructure, and Communities Canada (HICC) — formerly known as the Ministry of Housing, Infrastructure, and Communities — before evolving into a standalone federal entity reporting to Minister of Housing, Infrastructure, and Communities Gregor Robertson. HICC will be responsible for setting the investment policy and governance for Build Canada Homes. Along with the launch, the Government of Canada also announced former Deputy Mayor of Toronto Ana Bailão as the Chief Executive Officer of Build Canada Homes.
The launch of Build Canada Homes comes just two weeks after public engagement for the new federal housing entity ended and Build Canada Homes will look much like the federal government's initial vision outlined during public engagement.
What Build Canada Homes Will Do
The mission of Build Canada Homes is to "build affordable housing at scale and at speed" and the Government of Canada describes the new agency as a "one-stop shop for affordable housing" that provides a variety of solutions, such as enabling financing and providing land. On the financing front, Build Canada Homes is launching with an initial purse of $13 billion. On the land front, Build Canada Homes will have access to the land portfolio held under the Canada Lands Company, which will be transferred to Build Canada Homes. (Responsibility for the Canada Lands Company is also being transferred to the Minister of Housing, Infrastructure, and Communities.)
Another objective of Build Canada Homes is to be a force multiplier for innovative housing technologies such as factory-built, modular construction, and mass timber. The federal government says it will mainstream these construction methods through bulk procurement and long-term financing, with the hope being that building timelines can be cut by half and that both costs and carbon emissions can be reduced by approximately 20%. "Wherever possible, Build Canada Homes will prioritize low-carbon materials, low-carbon technologies, and efficient design," says the Government of Canada.
Attorney General and former-Minister of Housing Sean Fraser spoke about the launch of Build Canada Homes at a media event in Nova Scotia. / Sean Fraser, Twitter
With US President Donald Trump forcing countries around the world to rethink how they approach trade, Build Canada Homes will adopt the new Buy Canadian Policy announced by Carney earlier this month. The policy ensures the federal government buys from Canadian suppliers, meaning Build Canada Homes will prioritize using Canadian materials. "Build Canada Homes will channel demand through Canadian industries — from lumber and steel to aluminum and mass timber — strengthening domestic supply chains, scaling up a home-grown housing industry, and creating high-paying careers across the country," the press release states.
"It's not just about building more — it's about building better and building bolder," said Minister Robertson. "Build Canada Homes will support new ways of building, leverage public lands, and accelerate affordable home building to deliver real results for Canadians, so that everyone has a place to call home."
Build Canada Homes: Launch Projects And Investments
Along with the launch of Build Canada Homes, Prime Minister Carney also announced its first round of investments.
The first of the four initiatives involves homes the new housing agency will build directly. Starting things off, Build Canada Homes will be overseeing and leading affordable housing projects at six sites across the country that will together deliver approximately 4,000 homes. The sites are currently within the Canada Lands Company's portfolio and Build Canada Homes will "prioritize innovative, factory-built housing." Details of the six sites were not provided, but the sites are located in Dartmouth, Longueuil, Ottawa, Toronto, Winnipeg, and Edmonton.
Secondly, Build Canada Homes will be launching the $1.5 billion Canada Rental Protection Fund that was announced by the Trudeau-led government. Like the BC Rental Protection Fund that inspired it, the Canada Rental Protection Fund will support the community housing sector in acquiring at-risk rental buildings, effectively shielding them from redevelopment.
Thirdly, Build Canada Homes will be deploying $1 billion towards building transitional and supportive housing for people who are experiencing homelessness. The federal government says it will collaborate with other levels of government and Indigenous partners to pair its investment with employment and healthcare supports.
Lastly, Build Canada Homes will be partnering with Nunavut Housing Corporation to build over 700 supportive housing units, with 30% of those units expected to be built off-site and in a factory.
The Government of Canada says more details about these first investments will be announced over the coming months and that more investments will be announced with Budget 2025.
