CALGARY, AB, 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 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, along with the City of Calgary and other partners announced over $83 million in combined funding to help build 204 secure, rental homes in Calgary.
800 Six West, located at 800 6 Avenue Southwest, the building will offer 204 homes to Calgary residents from all walks of life. The project is a conversion of an existing office and commercial building to mixed-use residential offering newly repurposed affordable and accessible housing units with modern designs. Additionally, Carya Society of Calgary will provide part-time on-site support services including mental health and wellbeing programs such as one-on-one counseling, support groups, financial wellness counseling and art and creativity programs to foster social connections through fitness and social events.
The announcement was made by Corey Hogan, Member of Parliament for Calgary Confederation, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada alongside Myke Atkinson, Ward 7 Councillor City of Calgary, Rod Ruff, Chief Executive Officer and President, Alberta Ecotrust and Maxim Olshevsky, CEO, Astra Group and Peoplefirst Developments.
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 more homes for people in Calgary and across the country. Supporting the Affordable Housing Fund is how we turn commitment into results by investing in stronger, more resilient communities. I'm proud of our role in this project and the lasting difference it will make for families in this community." – Corey Hogan, Member of Parliament for Calgary Confederation
"Calgarians urgently need continued investment in housing. We're committed to working with our government and private partners to make that happen. 800 Six West office-to-residential conversion is a powerful example of how partnerships are transforming our downtown and ensuring that all Calgarians have access to safe, affordable housing in welcoming and supportive communities--including our downtown." – His Worship Jeromy Farkas, Mayor of Calgary
"Through our Climate Innovation Fund, we invest in practical solutions that tackle multiple societal and environmental challenges, creating positive impact in our cities. The 800 Six West project demonstrates how innovation and collaboration can come together to make housing more affordable, lower emissions, and contribute to a city where everyone can thrive." – Rod Ruff, Chief Executive Officer and President, Alberta Ecotrust Foundation
"800 Six West, our third office-to-residential conversion in downtown Calgary, is a continued demonstration of how underutilized assets can be transformed into part of the housing solution through collaboration across public, private, and nonprofit sectors. What's being accomplished in Calgary shows the kind of scalable, results-driven housing delivery Canada needs more of, and we're proud to be contributing to that momentum." – Maxim Olshevsky, Chief Executive Officer, Astra Group and Peoplefirst Developments
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 provided for 800 6 Avenue Southwest is as follows:
- $62 million from the federal government, through the National Housing Strategy's Affordable Housing Fund
- $15 million in contributions from the City of Calgary
- $900,000 in cash equity from the Alberta Ecotrust Foundation
- $4.9 million in cash equity from Astra Group
Additional Information:
- Visit canada.ca/housing for the most-requested Government of Canada housing information.
- Learn more about Build Canada Homes.
- 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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