TORONTO, July 28, 2025 /CNW/ - Solving Canada's housing crisis requires immediate action. To provide Canadians with increased access to affordable and sustainable housing, the government is supporting the construction of 159 new rental homes with an investment of over $81.5 million through the Apartment Construction Loan Program (ACLP).
Today's announcement, made by the Honourable Gregor Roberston, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, is one that will help make housing more affordable for families in the city.
Located at 3101 Bathurst Street Vivant at Bedford Park will be developed by Medallion Corporation. The nine-storey building will feature a thoughtfully designed, purpose-built rental apartment complex offering individuals and families tenancies in a modern, energy-efficient environment. The site is located close to public transit, restaurants, bakeries and shops within the vibrant North York community.
Construction is underway and expected to be complete by the Fall of 2027.
As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working hand-in-hand with our partners to bring down costs and build homes at a scale and speed not seen since the Second World War.
Quotes:
"The federal government is committed to catalyzing housing supply to bring down costs. This project will create more rental homes for people living and working in Toronto and is an example of what is possible when we strive for housing ambition. The project will be one where residents will have access to community, transit, and local businesses. This is another step forward in our bold, ambitious plan to build more homes." – The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada
"Medallion has proudly been providing rental housing for more than 60 years. The CMHC's ongoing commitment to the Apartment Construction Loan Program is essential to building affordable rental homes, which this community and Toronto desperately need. We're thrilled CMHC has partnered with us on Vivant on Bedford Park, an apartment that will offer residents affordability, energy efficiency, accessibility and connections to transit." – Scott Cryer, Chief Financial Officer, Medallion Corporation
Quick Facts:
- The National Housing Strategy (NHS) is a 10+ year, $115+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives are updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. The Housing and Infrastructure Project Map shows affordable housing projects that have been developed.
- As of March 2025, the federal government has committed $65.84 billion to support the creation of over 166,000 units and the repair of over 322,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence
- NHS is built on strong partnerships between the federal, provincial, and territorial governments, and continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private housing sectors. This includes consultations with Canadians from all walks of life, and people with lived experience of housing need.
- All NHS investments delivered by the federal, provincial, and territorial governments will respect the key principles of NHS that support partnerships, people, and communities
- The $55 billion Apartment Loan Construction Program (ACLP) is providing low-cost financing to support more than 131,000 new rental homes across Canada by 2031 – 2032.
- The ACLP provides fully repayable low-interest loans to encourage the construction of more rentals for middle-class Canadians. It creates a positive impact to the housing system at minimal cost to taxpayers.
- A stable supply of purpose-built rental housing is essential for more people in Canada to have access to housing that meets their needs.
- As of March 2025, CMHC has committed $23.35 billion in loans through ACLP to support the creation of more than 59,000 rental homes.
- It is one of many programs and initiatives under the National Housing Strategy designed to help address housing needs across the housing continuum.
- It complements other NHS initiatives that focus on funding affordable housing units for lower-income households.
- Budget 2024 announced enhancements to the ACLP which includes the program being extended from 2027 – 2028 to 2031 – 2032. The enhancements will allow applicants to apply for funding for on- and off-campus student housing to support post-secondary educational institutions as well as independent seniors housing. There are no longer minimum requirements relating to energy efficiency and accessibility, instead applicants will benefit from making stronger commitments to desired rental supply and social outcomes.
- Funding provided for the 3101 Bathurst Street project is as follows:
- $81.5 million in fully repayable loans from the federal government, through the Apartment Construction Loan Program.
Additional Information:
- Visit canada.ca/housing for the most-requested Government of Canada housing information.
- CMHC plays a critical role as a national facilitator to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to homeownership and the creation and maintenance of rental supply. We also actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Follow us on X, YouTube, LinkedIn, Facebook and Instagram.
SOURCE Canada Mortgage and Housing Corporation (CMHC)
Contacts: Renée LeBlanc Proctor, Office of the Minister of Housing and Infrastructure, [email protected]; Media Relations: Canada Mortgage and Housing Corporation, [email protected]
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