Prime Minister Mark Carney has unveiled Build Canada Homes, a new federal agency backed by $13 billion to address the country’s housing crisis. The agency will serve as a one-stop shop to accelerate affordable, transitional, supportive, and community housing, particularly for low- and middle-income households. It will collaborate with provinces, municipalities, and Indigenous partners, while unlocking federal land and transferring Canada Lands Company properties to fast-track new builds.

The plan emphasizes modern construction methods like modular and factory-built housing, aiming to cut build times by half, reduce costs by about 20%, and lower emissions. It also includes a strong “Buy Canadian” approach, prioritizing local supply chains and materials to create jobs and strengthen domestic industries. Early projects include more than 4,000 factory-built homes on six federal land sites, a $1.5-billion Rental Protection Fund to preserve affordable housing, and a $1-billion commitment to transitional and supportive housing.