TORONTO, Nov. 12, 2025 /CNW/ - Changes in the global trading system are causing massive disruptions and uncertainty for Canadians. The world has changed, and Canada's economic strategy must change.
Budget 2025: Canada Strong is our plan to transform our economy from one that is reliant on a single trade partner to one that is stronger, more self-sufficient, and more resilient to global shocks. This budget is a plan to enable $1 trillion in investments over the next five years. This is a plan for Canada to give ourselves more than any foreign government can take away – a plan to build Canada strong.
Central to that plan is building – major infrastructure, millions more homes, and strong communities. To that end, the Government of Canada launched Build Canada Homes which will help double the pace of homebuilding over the next decade to increase housing supply, alongside other measures. It will also transform public-private collaboration and deploy modern methods of construction, as it catalyses the creation of an entirely new Canadian housing industry. This new federal agency that will build affordable housing at scale, including transitional and supportive housing, deeply affordable and community housing, and affordable homes for the Canadian middle class.
As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working together with the private and non-profit sector to bring down costs and build homes at a scale and pace not seen in generations. These investments are also providing Canadians with increased access to affordable and sustainable housing.
Solving Canada's housing crisis requires immediate action to bring down costs, cut red tape, and build homes more quickly. As part of the Government of Canada's broader efforts to respond to the housing crisis, work is being done across the housing continuum to respond to the needs of communities across Canada.
To that end the Co-operative Housing Development Program (CHDP) is the largest federal investment in new co-op housing development in more than 30 years, with $1.5 billion in funding.
Today, the federal government announced over $137 million in funding to help build 245 secure, rental homes in Toronto.
The property, at 2 Dunelm Street, will be 21-storey building, developped by Options for Homes, will include a mix of studio, one-bedroom, two-bedroom, and three-bedroom apartments. The site is located close to public transit, schools, parks and shops within Scarborough Village area.
The announcement was made by Jennifer McKelvie, Parliamentary Secretary to the Minister of Housing and Infrastructure and Member of Parliament of Ajax, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada alongside the Honourable Gary Anandasangaree, Minister of Public Safety and, Member of Parliament for Scarborough--Guildwood--Rouge Park, the Honourable Bill Blair, Member of Parliament for Scarborough Southwest and the Honourable Adam van Koeverden, Secretary of State (Sport) and, Member of Parliament for Burlington North--Milton West.
The past year has revealed there are limits to Canada's economic independence. Budget 2025 is tackling that challenge head on. It is our plan to take control and build the future we want for ourselves. It is our plan to build Canada Strong.
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"Our Government is proud to support this initiative, part of our ongoing efforts to build strong, affordable communities across the country. The Cedars South Tower will make a real impact on lives for our community here in Scarborough, and it's another step forward in our bold, ambitious plan to build Canada strong." – The Honourable Gary Anandasangaree, Minister of Public Safety and, Member of Parliament for Scarborough--Guildwood--Rouge Park
"Our Government is investing in co-operative housing in Scarborough so people can stay in the communities they love. These homes help residents remain close to family, work, and support systems, without being priced out. This is part of our broader plan to support communities across the country with stable, affordable housing."– The Honourable Bill Blair, Member of Parliament for Scarborough Southwest
"Our Government is focused in delivering housing for the people of Toronto and across the country. Supporting The Cedars South Tower is one of the ways we do that. I'm proud of our involvement in this project, and of the tangible difference it will make for people in this community." – The Honourable Adam van Koeverden, Secretary of State (Sport) and, Member of Parliament for Burlington North--Milton West
"Affordable housing is foundational to improving economic, educational and health outcomes. Today's announcement through the Co-operative Housing Development Program is another step towards creating more equitable and affordable housing. We will continue working closely with all partners to create more affordable housing that meets the needs of Canadians now, and into the future." Jennifer McKelvie, Parliamentary Secretary to the Minister of Housing and Infrastructure and Member of Parliament of Ajax
"Today, too many working households in Scarborough earn a good living yet are priced out and pushed out of the very communities they belong to. We are honoured to have the federal government's funding and support for the rental co-op at The Cedars. This milestone funding demonstrates the scale of what can be possible when visions and resources between non-profits and government are aligned to deliver housing that meets the diverse needs of working households in our cities."–Daniel Ger, CEO, Options for Homes.
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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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