TORONTO, March 2, 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 will help increase the pace of affordable homebuilding. Build Canada Homes will also help fight homelessness by building transitional and supportive housing – working with provinces, territories, municipalities, and Indigenous communities. It will build deeply affordable and community housing for low-income households, and partner 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 meet the needs of communities across Canada.
Today, the federal government, announced over $86 million in funding to help build 271 affordable, secure, rental homes in Toronto. Regent Park Phase 4A is one of the later stages of the multi-phase redevelopment of Regent Park by the City of Toronto and Toronto Community Housing, focused on continuing the transformation of the neighborhood into a mixed-income, mixed-use community. Creating a vibrant neighbourhood, these homes will be integrated within walking distance of retail and commercial spaces, community facilities, active parks and open spaces. Occupancy is expected to begin in 2029.
The announcement was made by the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario and Member of Parliament for Toronto Centre, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada alongside Laura Smith, Parliamentary Assistant to the Honourable Rob Flack, Ontario's Minister of Municipal Affairs and Housing, Olvia Chow, Mayor of Toronto and Chris Moise and Chris Moise, City Councillor for Ward 13 – Toronto Centre.
Quotes:
"Our Government is focused in delivering housing for the people of Toronto and across the country. Supporting Regent Park Phase 4A 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 our community." – The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario and Member of Parliament for Toronto Centre.
"Under the leadership of Premier Ford, our government will continue making strategic investments that support the successful delivery of projects like this; projects that provide more Ontario residents and families with access to affordable housing in vibrant communities. Thank you to the dedicated partners working alongside us to forge a stronger future for people in Toronto and across Ontario." – The Honourable Rob Flack, Ontario Minister of Municipal Affairs and Housing
"The City of Toronto is building more affordable housing and strengthening communities across our city. With investments of over $100 million from the City of Toronto and Toronto Community Housing, along with funding from the Government of Canada and support from the Province of Ontario, we are breaking ground on 272 affordable homes in Regent Park. This project delivers much-needed family-sized units and critical replacement housing. It reflects strong partnership across all levels of government working together to help deliver a safe, affordable and caring city for everyone." – Olvia Chow, Mayor of Toronto
"The federal government deserves significant recognition for their ongoing support of Toronto Community Housing and the people of Toronto at a critical time. This investment in 271 affordable homes is in addition to the $1.34 billion the Government of Canada has already contributed to TCHC's capital repair program from 2019 to 2027, helping to keep thousands of affordable homes open and in good repair. We're grateful for the ongoing partnership between the City of Toronto and Government of Canada, which is protecting and creating the homes that families in Toronto will rely on for generations to come." – Sean Baird, President and CEO, TCHC
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 September 2025, the Government of Canada has committed $13.72 billion to support the creation of over 54,100 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 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 325 Gerrard Street E is as follows:
- $86 million from the federal government, through the Affordable Housing Fund
- $50,7 million from the City of Toronto
- $82,5 million from Toronto Community Housing
- Since 2018, the Government of Ontario has provided over $7.6 million for environmental remediation efforts as part of the Regent Park revitalization.
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: 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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