Prime Minister Mark Carney has announced the creation of Build Canada Homes (BCH), a new federal agency tasked with rapidly expanding affordable housing across the country. With an initial CAD$13 billion investment, BCH aims to double housing construction, reduce homelessness, and make homes more affordable for Canadians.
The agency will build deeply affordable, community, and transitional housing in partnership with provinces, municipalities, Indigenous communities, and private developers. BCH will leverage federal land, streamline approvals, and offer financial incentives to support large-scale projects. Canada Lands Company has been transferred under BCH, giving the agency access to 88 federal properties identified as suitable for housing.
BCH will also champion modern construction methods such as factory-built, modular, and mass timber, which could cut building timelines by up to 50% and reduce costs and emissions. The agency will adopt a new Buy Canadian policy, prioritizing domestic materials like lumber, steel, and aluminum to strengthen supply chains and create jobs.
Ana Bailão, a former Toronto deputy mayor and affordable housing advocate, has been appointed as BCH’s first Chief Executive Officer. Under her leadership, BCH has already outlined its first initiatives and includes a 4,000 factory-built homes on six federal land sites in cities including Toronto, Winnipeg, and Edmonton, with potential for up to 45,000 units; a CAD$1.5 billion Rental Protection Fund to preserve at-risk affordable apartments; CAD$1 billion for transitional and supportive housing for people experiencing homelessness; and a partnership with the Nunavut Housing Corporation to build over 700 new homes, including factory-built units;
Government officials say BCH will serve as a one-stop shop for affordable housing, designed to accelerate delivery and scale up a new Canadian housing industry. Additional measures to support builders and attract private capital are expected in Budget 2025.
Learn more at Canada.ca.