SASKATOON, SK, Oct. 15, 2025 /CNW/ - Solving Canada's housing crisis requires immediate action to build up supply and bring down costs. The Government of Canada is stepping up with unprecedented investments to supercharge housing construction across Canada. To that end, the federal government launched Build Canada Homes, a 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 sectors 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.
The Apartment Construction Loan Program (ACLP) provides fully repayable low-interest loans to catalyze the construction of more rental units for middle-class Canadians.
Today, the federal government made an investment of over $43.7 million for the construction of 162 housing units in Saskatoon through the ACLP.
The Hadley, located at 620 Webster Street, will be a 162-unit purpose built, wood frame apartment building with close proximity to public transit and amenities. The building will include an outdoor courtyard with BBQ area, lounge games, fire pit, gym, resident lounge, theatre room and bike parking.
The announcement was made by the Honourable Buckley Belanger, Secretary of State (Rural Development) and Member of Parliament for Desnethé--Missinippi--Churchill River, at the site of The Hadley project.
Budget 2025, to be tabled next month, will build on this momentum with further measures to lower costs for builders, catalyse private capital, and double the pace of homebuilding across Canada. Budget 2025 will spend less on government operations and reduce waste, so we can invest more to grow our economy, build more homes, and make life more affordable for you.
Quotes:
"We need to build more, build better and build bolder. Through investments in rental housing, our government is supporting those who need it most, here in Saskatoon and across the country. We are committed to strengthening communities through initiatives like this one." – The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada
"Through the Apartment Construction Loan Program, our new federal government is taking action to build more housing by investing more than $43.7 million in the construction of 162 homes in Saskatoon. This is more than just construction, it's about creating opportunities for individuals and families to build their futures with stability and dignity." – The Honourable Buckley Belanger, Secretary of State (Rural Development) and Member of Parliament for Desnethé--Missinippi--Churchill River
"This investment is another important step toward tackling Saskatoon's housing crisis, and I'm grateful for our partnership with the Government of Canada and local builders who are helping us deliver more homes, faster. As one of Canada's fastest-growing cities, we know the urgency -- too many residents are struggling to find a place to live. By building density in well-connected areas, we're creating the kind of affordable, sustainable housing Saskatoon needs now and for the future." – Cynthia Block, Mayor of the City of Saskatoon
"As Saskatoon continues to grow, it is vital that we build housing that supports the future of our city in a thoughtful and lasting way. By increasing the supply of quality and affordable rental housing, The Hadley will help meet growing demand and contribute to the city's long-term development and vitality. With the support of the Federal Government and our local governments in building housing in our communities, we feel that it is this type of forward-looking approach that helps create a vibrant, resilient community for generations to come." – James Wright, President, Westcliff Developments
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 stable supply of purpose-built rental housing that is essential for more people in Canada to have access to housing that meets their needs.
- As of June 2025, CMHC has committed $24.9 billion in loans through ACLP to support the creation of more than 63,500 rental homes.
- It is one of many programs and initiatives under the National Housing Strategy (NHS) 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.
- Budget 2024 announced enhancements to the ACLP which includes the program being extended from 2027 – 2028 to 2031 – 2032. The enhancements will allow applicants to apply for funding for on- and off-campus student housing to support post-secondary educational institutions as well as independent seniors housing. There are no longer minimum requirements relating to energy efficiency and accessibility, instead applicants will benefit from making stronger commitments to desired rental supply and social outcomes.
- The federal government also recently released 50 downloadable technical design packages for the Housing Design Catalogue, featuring standardized housing designs for rowhouses, fourplexes, sixplexes and accessory dwelling units across the country. These designs for gentle density help builders and communities reduce the time and cost of developing construction plans, helping to accelerate approvals and construction starts. It will make it easier to add new housing options in established neighbourhoods and prioritizes wood-frame construction that supports local jobs and grows our economy.
- Funding provided for The Hadley is as follows:
- $43,705,000 through CMHC's ACLP
- $2,305,121 from 620 Webster Street Holdings Ltd.
- Tax abatement from the City of Saskatoon
Additional information:
- Visit canada.ca/housing for the most-requested Government of Canada housing information.
- 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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