VANCOUVER, BC, July 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. We are focused on building great neighbourhoods that Canadians want to, and can afford to live in.
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 more than $53.4 million funding to support deep energy retrofits, climate-resilient upgrades, and the renewal of 276 homes in East Vancouver.
The announcement was made at the Adanac Housing Co-op, located at 950 Cassiar Street, by the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada alongside Laura Spiegel, President of Adanac Housing Co-operative Society.
The Society is undertaking a complete refurbishment and upgrades to their mix of apartments and townhomes, including upgrading siding, windows, doors, insulation, heat pumps, and solar panels. The cost of the upgrades was estimated at $42.8 million. Construction began in February 2026 and is expected to be complete by December 2028. Funding for these projects was provided through the Affordable Housing Fund, the Canada Greener Affordable Housing program and the Affordable Housing Innovation Fund.
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 supporting communities and organizations like Adanac Co-operative Housing Society as they modernize aging homes, lower energy costs and reduce greenhouse gas emissions. Every project like this helps create more affordable, sustainable homes and brings us one step closer to ensuring Canadians have access to housing they can afford."– The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada
"With support from Canada Greener Affordable Housing Program (CGAH) and Affordable Housing Fund (AHF), the Adanac Housing Co-operative Society has been able to preserve our community of 160 households - comprised of low- and middle-income families, couples and seniors - rather than consider the upheaval and uncertainty of redevelopment." – Laura Spiegel, President of Adanac Housing Co-operative Society
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.
- The Affordable Housing Innovation Fund is providing $615.5 million for projects that showcase new funding models and innovative building techniques. This investment is on track to support up to 24,115 total units.
- The Canada Greener Affordable Housing Program (CGAH) provided $1.2 billion to make multi-unit rental housing serving low- and moderate-income households more energy efficient and environmentally friendly.
- CGAH was a financing program to help community housing providers complete deep energy retrofits on their multi-unit residential buildings, improving their quality and adapting homes to the effects of climate change and extreme weather events leading to deep reductions in energy consumption and greenhouse gas (GHG) emissions.
- CGAH provided contributions for pre-retrofit activities needed to plan, prepare, and apply for retrofit funding as well as forgivable and low-interest loans to help finance building retrofits and activities needed to meet climate objectives. The application portal is now closed as all funding has been committed.
- The program was co-designed with the Co-operative Housing Federation of Canada and the co-op housing sector to ensure it addresses the sector's unique needs, including capacity-building support for applicants.
- Funding provided for 950 Cassiar Street and 3550 Adanac Street includes:
- 14.6 million from the federal government, through the Affordable Housing Fund and $27.2 million through the Canada Greener Affordable Housing Program
- $2 million in cash equity from the Adanac Co-operative Housing Society
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.
- Canada Mortgage and Housing Corporation (CMHC) is a federal Crown corporation and the foundation of Canada's housing system. For over 80 years, CMHC has supported the functioning of housing markets across the country through housing finance solutions -- including mortgage loan insurance and securitization -- while providing trusted, unbiased data, research and market intelligence to inform policy and decision making. Through its national presence, deep expertise in housing economics and finance, and a system-wide perspective, CMHC helps foster a more stable, well-functioning housing market that supports households, communities and the broader economy.
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Appendix
Other projects included in this announcement:
Project Name |
Program |
Address |
Funding |
Units |
Soroptimist Lions |
CGAH |
1444 East 13 Ave. |
$2,705,000 |
25 |
Beatrice Terrace |
CGAH |
1877 Georgia St. East |
$2,224,000 |
18 |
Antkiw Court |
CGAH |
1534 4 Ave. East |
$2,518,000 |
21 |
King's Daughters |
CGAH |
1400 East 11 Ave. |
$3,213,000 |
29 |
Deeply Affordable |
AHIF |
556 Powell St. |
$1,200,000 |
23 |
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]
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