SASKATOON, SK, June 25, 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.
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, along with the City of Saskatoon and Jubilee Residences Inc., announced $11.5 million in combined funding to help build 36 units for independent seniors. Located at 1705 31 Street West, Jubilee Terrace is made up of studio, one- and two-bedroom units. Jubilee Terrace has facilities for recreation, garden space, outdoor patio and laundry on each floor. The project is complete and residents will soon be moving into their new homes.
The announcement was made by the Honourable Buckley Belanger, Secretary of State for Rural Development, Member of Parliament for Desnethé--Missinippi--Churchill River on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada alongside Cynthia Block, Mayor, City of Saskatoon, Cam Choquette, Chair, Jubilee Residences Inc., John Knoch, President and CEO, Jubilee Residences Inc, and Bryan McCrae, Co-founder, 3twenty Modular.
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:
"Jubilee Terrace represents an important investment in health and independence for seniors in Saskatoon and the surrounding area. By creating safe, affordable, and accessible homes, we are helping seniors remain connected to their community with pride while meeting the growing need for quality housing options in the city."–The Honourable Buckley Belanger, Secretary of State for Rural Development, Member of Parliament for Desnethé--Missinippi--Churchill River
"The City of Saskatoon is pleased to support this important affordable housing project for seniors in our community. Projects like this are essential to ensuring residents can age with dignity, independence, and connection. By working in partnership with other orders of government and community organizations, we are helping expand affordable housing options and strengthen the well-being of our growing city." – Cynthia Block, Mayor, City of Saskatoon
"Jubilee Terrace is a tremendous result of the collaborative partnership between Jubilee, CMHC and the City of Saskatoon. Thank you to everyone involved with helping us provide affordable, accessible and market housing for seniors in our community." – Cameron Choquette, Board Chair, Jubilee Residences Inc.
Quick Facts:
- The Affordable Housing Fund (AHF) provided 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 was a $16.1 billion program under the National Housing Strategy (NHS) that gave 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. The application portal for AHF is now closed as all funding has been committed.
- As of March 2026, the Government of Canada has committed $15.83 billion to support the creation of over 61,700 units and the repair of over 174,700 units through the Affordable Housing Fund.
- On September 19, 2025, the Government of Canada announced $1.5 billion top-up in loans for the AHF's New Construction Stream, to support the creation of over 5,000 new units starting in 2025-26. Additionally, the AHF's Rapid Housing Sub-Stream will be accelerated, by pulling $385 million in funding from future years.
- Funding provided for Jubilee Terrace is as follows:
- $7.46 million from the federal government, through the Affordable Housing Fund
- $540,000 million from the City of Saskatoon
- $3.5 million from Jubilee Residences Inc.
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.
- CMHC plays a critical role as a national convenor to promote stability and sustainability in Canada's housing finance system. CMHC's mortgage insurance products support access to home ownership and the creation and maintenance of rental supply. CMHC research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, CMHC contributes to advancing housing affordability, equity, and climate compatibility. CMHC actively supports the Government of Canada in delivering on its commitment to make housing more affordable.
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SOURCE Canada Mortgage and Housing Corporation (CMHC)
Contacts: Arianna Durgerian, Press Secretary, Office of the Minister of Housing and Infrastructure, [email protected]; Media Relations : Canada Mortgage and Housing Corporation, [email protected]
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