Canada announces new homes in Oshawa

Logo: Government of Canada

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OSHAWA, ON, Aug. 20, 2026 /CNW/ -- Far too many Canadians are struggling to find homes they can afford. Solving Canada's housing crisis requires immediate action to bring down costs, cut red tape, and build homes more quickly. The Government of Canada is stepping up with a bold new approach to build affordable housing across the country. We are focused on building great neighbourhoods that Canadians want to, and can afford to live in.

Central to that work, the Government of Canada has launched Build Canada Homes, which is helping increase the pace of affordable homebuilding. Build Canada Homes is also helping fight homelessness by building transitional and supportive housing – working with provinces, territories, municipalities, and Indigenous communities. It is building deeply affordable and community housing for low-income households, and partnering with private market developers to build affordable homes for the Canadian middle class.

As part of the Government of Canada's broader efforts to respond to the housing crisis, investments are being made across the housing continuum to respond to the needs of communities across Canada.

Today, the federal government announced $188 million in funding through the Apartment Construction Loan Program to help build 502, rental homes in Oshawa. Called The Foundry District, the project at 135 Bruce Street marks the start of one of Durham Region's largest downtown revitalization initiatives.

The project will help address local housing needs, supporting a more inclusive and complete community. The project is also located close to transit, parks, community services and everyday amenities.

The announcement was made by Jennifer McKelvie, Parliamentary Secretary to the Minister of Housing and Infrastructure and Member of Parliament for Ajax, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada alongside John Henry, Regional Chair and CEO of The Regional Municipality of Durham and Dan Carter, Mayor of Oshawa.  

The Government of Canada is making the housing investments that will help strengthen Canadian supply chains and create good jobs at every step of the homebuilding process – helping to build more homes and a stronger Canadian economy at the same time.

Quotes:

"Our government is committed to driving housing supply to bring down costs. This project will create more rental homes for people living and working in Oshawa and is an example of what's possible when we work together in partnership with the private sector. This is another step forward in our bold, ambitious plan to build Canada strong." – The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada

"Our government is committed to work with our partners to build more homes in our community. Through the Apartment Construction Loan Program, we are taking action to increase the supply of new rental housing by investing $188 million in the construction of 502 new homes in Oshawa. This is more than just construction, it's about creating real opportunities for individuals and families to thrive, to grow, and have a safe place to call home." – Jennifer McKelvie, Parliamentary Secretary to the Minister of Housing and Infrastructure and Member of Parliament for Ajax

"The development at Bruce Street is an important step in addressing Oshawa's housing needs. Transforming a historic brownfield site into hundreds of new purpose-built rental homes will revitalize the downtown core, support our growing community and strengthen Oshawa as a vibrant place to live, work and invest. Thank you to the federal government for its commitment to increasing housing supply in Durham Region." – John Henry, Regional Chair and Chief Executive Officer for The Regional Municipality of Durham

"We are grateful to the Government of Canada for its investment in helping deliver more affordable homes in Oshawa. The Foundry District is an exciting new development that will bring more housing options to our downtown while connecting residents to parks, public transit, local amenities and vibrant community spaces." – Dan Carter, Mayor of Oshawa

"We are establishing a new centre of gravity for downtown Oshawa -- a place our future residents will call home, and a public realm all of Durham Region can enjoy. Medallion has a deep track record in Ontario and here in Durham, where Vision at Pat Bayly Square has helped transform downtown Ajax. The Foundry District is our next chapter -- and we are proud to be building it with partners from every level of government." – Anna Fagyas, Director of Development, Medallion Corporation

Quick Facts:

• The $55 billion Apartment Construction Loan 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 2026, CMHC has committed $30.82 billion in loans through ACLP to support the creation of more than 78,200 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.
• Funding provided for 135 Bruce Street is as follows:
  • $188 million from the federal government, through the Apartment Construction Loan Program
  • $3,893,568 from the City of Oshawa
  • A commitment of up to $3.9 million by the Region of Durham under the Regional Revitalization Program

Additional Information:

• Visit canada.ca/housing for the most-requested Government of Canada housing information. 
• Build Canada Homes is ready to partner with organizations committed to increasing the supply of affordable housing across Canada. Learn more about the portal and the Investment Policy Framework.
• Canada Mortgage and Housing Corporation (CMHC) is a federal Crown corporation and the foundation of Canada's housing system. For over 80 years, CMHC has supported the functioning of housing markets across the country through housing finance solutions -- including mortgage loan insurance and securitization -- while providing trusted, unbiased data, research and market intelligence to inform policy and decision making. Through its national presence, deep expertise in housing economics and finance, and a system-wide perspective, CMHC helps foster a more stable, well-functioning housing market that supports households, communities and the broader economy.
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SOURCE Canada Mortgage and Housing Corporation (CMHC)

Contacts: Arianna Durgerian, Office of the Minister of Housing and Infrastructure, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]