Canada announces the groundbreaking of 217 homes in Toronto

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TORONTO, June 8, 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 announced over $112 million in funding to help build 217 secure, rental homes in Toronto. Located at 389 Cleveland Street, the project is a 15-storey residential building with a ground-floor commercial retail unit. Designed for families, young professionals, and downsizers, the building features indoor and outdoor amenities, including fitness and wellness spaces, co-working areas, gardens, play spaces, and community gathering areas. The project is located near major employment areas and the Eglinton subway LTR station, including shops, parks, and schools, providing access to nearby services and amenities.

The announcement was made by Leslie Church, Member of Parliament for Toronto--St. Paul's, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada.

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 Toronto 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  

 "We are committed to working with our partners to rise to the challenge of building more housing in our community. Through the Apartment Construction Loan Program, we are taking action to increase the supply of new rental housing by investing more than $112 million in the construction of 217 new homes in Toronto. 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."– Leslie Church Member of Parliament for Toronto--St. Paul's

"Inclusive neighbourhoods start with well-build, inclusive buildings. At 383–389 Cleveland, that meant a genuine mix of bedroom sizes, affordable homes woven throughout the building, and 33 accessible suites designed to CSA Standards. This isn't a building that checks boxes. It's one that opens doors for all." – Michael Williams, Managing Partner & Chief Development Officer at Hazelview.

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 December 2025, CMHC has committed $29.45 billion in loans through ACLP to support the creation of more than 74,600 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 389 Cleveland Street is as follows:
  • $112 million from the federal government, through the Apartment Construction Loan 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.
• 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, Office of the Minister of Housing and Infrastructure, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]