Government of Canada Marks Official Opening of Generations Toronto

Government of Canada logo (CNW Group/Canada Mortgage and Housing Corporation (CMHC))

TORONTO, March 30, 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.

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 marked the official inauguration of Generations Toronto, located at 325 Moriyama Drive in Toronto. The project includes 390 secure, rental homes and reflects a community-focused approach to housing. Generations Toronto demonstrates how rental housing can be designed to support sustainable rental costs while integrating health and care services and creating inclusive spaces that strengthen social connections and support residents at all stages of life. The project was visited by officials at all levels of government as well as His Highness the Aga Khan.

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 housing costs down. Generations Toronto creates more much-needed rental homes for the people living and working in Toronto. It's an example of what's possible when all levels of governments and communities work together. It's also 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

"Projects like Generations Toronto make communities better, and better communities benefit us all. By combining expertise, investment, and shared purpose, this partnership is transforming how we approach housing and community building. Our government is proud to have been a part of making this happen. This is more evidence of what we can do, as a country, when we work together." – The Honourable Shafqat Ali, President of the Treasury Board and Member of Parliament for Brampton--Chinguacousy Park

"As part of a campus with 390 affordable homes, on-site healthcare, childcare and community programming, Generations Toronto is a place where families can thrive together, alongside relatives who need more care. After celebrating the groundbreaking in 2022, our government is proud to see the completion of the 122-bed long-term care home to support Toronto's Ismaili community."  –  Doug Ford, Premier of Ontario

" I want to thank Canada, Ontario, and Toronto for investing with us, and for being places where partnerships among governments, businesses, and civil society can be catalyzed so productively to improve the well-being of individuals and communities. It is a model that should make all of us proud, reflecting the very best of this great country."  – His Highness the Aga Khan

"Today's opening of the Generations Toronto Campus, inaugurated by His Highness the Aga Khan, is a major step forward in delivering complete, caring communities to Torontonians. This important project will serve the Ismaili community in Toronto while also supporting the diverse needs of all residents. The City of Toronto is proud to support this project with more than $17.5 million in incentives, along with additional funding from other levels of government, helping bring this vision to life and ensuring more residents have access to safe, modern care."  –  Olivia Chow, Mayor of Toronto

"I'm thrilled to see Generations Toronto open, bringing new affordable housing, long term care and community space, creating a welcoming and multi-generational community in North York." –  Councillor Jon Burnside (Don Valley East) 

Quick Facts:

• The Government of Canada invested $130 million in the 325 Moriyama Drive project through the Apartment Construction Loan Program (ACLP), which was announced on November 14, 2023: Deputy Prime Minister announces $1.2 billion to build over 2,600 new rental homes in Toronto - Canada.ca
• 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.
  • The City of Toronto supported Generations Toronto with $17.5 million in incentives through development charge exemptions and permit fee waivers. In addition, the City will provide tax exemption for the affordability period. 
  • 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.

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]