CHARLOTTETOWN, PEI, 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 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 Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partnered organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. Today, the federal government announced more than $2.5 million in funding to help build 13 secure, affordable, supportive homes in Charlottetown owned by the Prince Edward Island Housing Corporation. The Province of Prince Edward Island is contributing $1 million.
The homes will provide permanent, supportive accommodation for individuals experiencing or at risk of homelessness. Construction began in October 2024 with anticipated opening later this fall.
The announcement was made by Sean Casey, Parliamentary Secretary to the Minister of Veterans Affairs and Associate Minister of National Defence, and Member of Parliament of Charlottetown, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development.
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.
Quotes:
"Our Government is focused on delivering housing for the people of Charlottetown and across the country. Supporting the Affordable Housing Fund 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." –Sean Casey, Parliamentary Secretary to the Minister of Veterans Affairs and Associate Minister of National Defence, and Member of Parliament of Charlottetown
"The Weymouth Street Supportive Housing project has been part of the province's long-term housing plan for the last few years because providing safe, affordable housing is a core priority for our government. Securing federal funding for our project, strengthens our ability as a province to deliver high quality affordable housing for more Islanders." – The Honourable Cory Deagle, Minister of Housing, Land and Communities, Province of Prince Edward Island
"Permanent, supportive housing is a critical piece of our provincial housing strategy. These new homes will help Islanders transition out of homelessness and access the supports they need to thrive. This project reflects our commitment to building communities where everyone has a place to call home."– Cheryl Paynter, P.E.I. Housing Corp CEO
Quick Facts:
- The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partnered organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. This is a $16.1 billion program under the National Housing Strategy (NHS) that gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous Peoples, people living with disabilities, those with mental health or addiction issues, Veterans, and young adults.
- As of June 2025, the Government of Canada has committed $12.91 billion to support the creation of over 50,300 units and the repair of over 174,600 units through the Affordable Housing Fund.
- On September 19, 2025, the Government of Canada announced $1.5 billion top-up in loans for the Affordable Housing Fund's New Construction Stream, to support the creation of over 5,000 new units starting in 2025-26. Additionally, the Affordable Housing Fund's Rapid Housing Sub-Stream will be accelerated, by pulling $385 million in funding from future years.
- Funding for this project is as follows:
- $2.5 million from the federal government, through the Affordable Housing Fund
- $1 million from the Prince Edward Island Housing Corporation
- $1 million in contributions from the Government of Canada Unsheltered Homeless and Encampment Initiative
Additional Information:
- Visit canada.ca/housing for the most-requested Government of Canada housing information.
- Learn more about BCH
- 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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