New research demonstrates $102B in value could be created by investing in public housing infrastructure

Supported by ScotiaRISE, the Public Housing Dividend uncovers the full productive power
of public housing infrastructure and charts a path to scaling it across the GTHA

TORONTO, June 1, 2026 /CNW/ - A new report is helping define how strategic investment in public housing can drive economic growth while improving health, social outcomes and long-term community resilience across the Greater Toronto and Hamilton Area (GTHA). Commissioned by the GTHA Community Housing Collaborative, with support from Scotiabank, and prepared by the Canadian Centre for Economic Analysis (CANCEA), the Public Housing Dividend Report provides a more complete framework for understanding how public housing investment contributes to stronger communities and a more resilient economy.

The Public Housing Dividend (PHD) Report is a first-of-its-kind study that measures the full Return on Investment (ROI) communities receive from public housing infrastructure by quantifying social value alongside economic and fiscal outcomes. The report models five different investment scenarios in the GTHA over the next 25 years and examines the trade-offs between capital investment and downstream public expenditures to show what is gained or lost when public housing investments are increased or withdrawn.

The report's findings suggest that a combined approach to renewing existing public housing infrastructure and expanding the portfolio can create measurable, compounding economic and social benefits over time. That strategy could generate $102 billion in combined economic and social value across the GTHA between 2026 and 2050. The central growth scenario projects nearly $50 billion in GDP impact over 25 years, alongside job creation, health care and justice system savings, and increased government revenues. This is in addition to healthier, happier communities where residents of public housing and their neighbours enjoy greater wellbeing, demonstrating why a broader, evidence-based view of value matters as Canada looks to scale public housing.

Specific benefits of a capital program to build new publicly owned homes and renew the existing infrastructure include:

• Job creation – more than 354,000 job-years of employment, reaching approximately 15,000 sustained full-time positions annually by 2050 in construction, retail, professional services, manufacturing and transportation.
  
  
• Health care and justice system savings – $1.8 billion in avoided costs related to emergency room visits, hospital inpatient days, and justice system events.
  
  
• Private investment - $6.0 billion in private capital flows into communities where public housing is renewed and expanded, taking the form of new businesses and other investments that generate fresh activity and value for the surrounding area.
  
  
• Stable housing – 23,000 public housing units added or protected from closure by 2050 and more than 86,000 additional individuals and families housed.
  
  
• Social value – $48.3 billion in value for communities and residents (the dollar value assigned to changes in people's lives, including better physical and mental health, more stable families, improved housing satisfaction and greater community safety).
  
  
• Tax revenue – $12.6 billion that flows to the Federal and Provincial governments generated through taxation on economic activity over 25 years.

The findings of the research will be presented at a launch event on Monday, June 1, at the Scotiabank Centre. Attended by members of the GTHA Community Housing Collaborative, Scotiabank, and leaders from the financial, development and health-care sectors, the event will feature a keynote address by Sean Baird, President and CEO of Toronto Community Housing, as well as discussions with Meigan Terry, Executive Vice President and Chief Corporate and Public Affairs Officer at Scotiabank, Rebekah Young, Vice President of Economic Policy at Scotiabank, Olivier Ruta, Managing Director of Government Finance at Scotiabank, and Dr. Andrew Boozary, founding Executive Director of the Gattuso Centre for Social Medicine at University Health Network.

Read the full Public Housing Dividend Report here.

Quotes

"The Public Housing Dividend report makes clear that housing and the economy are deeply connected. Access to adequate, affordable housing is a foundation for better health, education, employment and financial security. It also strengthens communities and supports long-term economic growth. This report gives us the evidence for what many people already know from lived experience: when we invest in public housing, the benefits reach far beyond the people who live there. Public housing benefits all of society."

The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and
Minister responsible for the Federal Economic Development Agency for Southern Ontario,
Member of Parliament for Toronto Centre

"The evidence presented today will inform how society thinks about the long-term value of housing our most vulnerable neighbours well. We are proud to stand alongside the GTHA Community Housing Collaborative and Scotiabank in advancing this work. Public housing generates real returns for workers, families, seniors, and children, and for the governments that serve them."

MP Leslie Church
Parliamentary Secretary to the Secretaries of State for Labour, for Seniors, for Children and Youth,
and to the Minister of Jobs and Families (Persons with Disabilities),
Member of Parliament for Toronto--St. Paul's

"Everyone deserves a safe and affordable place to call home. This report shows that investing in public housing creates jobs, improves health outcomes, strengthens communities and saves money over the long term. When we invest in housing, we are investing in people and building a more affordable, caring and safe Toronto."

Mayor Olivia Chow, City of Toronto

"The Public Housing Dividend proves that public housing is productive infrastructure that generates measurable economic, health, and fiscal returns. Like bridges, transit, and hospitals, public housing infrastructure's value goes far beyond its immediate purpose. It can meaningfully address the current housing crisis in the GTHA and go even further, creating value for residents, workers and businesses all across the region."

Sean Baird, President and CEO, Toronto Community Housing Corporation

"Access to safe, affordable housing is fundamental to building strong, inclusive communities and a resilient economy. Through ScotiaRISE, we're proud to support research like The Public Housing Dividend Report, which helps strengthen the evidence for scaling community housing in a way that accounts for both social and economic value. Through Scotiabank's long-standing relationship with Toronto Community Housing, we can help provide financing for community housing in the GTHA, and reinforce the importance of viewing housing as a driver of economic growth, resilience and stronger communities."

Meigan Terry, Executive Vice President and Chief Corporate and Public Affairs Officer, Scotiabank

"Until now, economic analysis, social value measurement, health-system costing, and fiscal appraisal have each told part of the public housing story in isolation. The Public Housing Dividend brings those perspectives together within a single framework for the first time. What it shows is that public housing generates a measurable, positive rate of return for residents, communities, governments, and the wider economy simultaneously. ONEMODEL, a Canadian-developed simulation platform, makes that reconciliation possible by representing people, households, buildings, businesses, and governments as one connected system."

Paul Smetanin, President, Canadian Centre for Economic Analysis (CANCEA)

About ScotiaRISE

ScotiaRISE is Scotiabank's $500 million community investment commitment. Its goal is to build economic resilience by helping individuals and families access opportunities for economic growth, adapt to change, overcome barriers, and fully participate in the economy. ScotiaRISE is guided by four pillars: Education, Employment, Community Needs & Cohesion and Resilient Economy. Since launching in 2021, ScotiaRISE has partnered with 300 community organizations and invested more than $212 million globally.

About the GTHA Community Housing Collaborative
The GTHA Community Housing Collaborative brings together the Greater Toronto and Hamilton Area's six largest public housing providers, collectively responsible for the stewardship, renewal and expansion across Toronto, Peel, York, Durham, Halton, and Hamilton. In total, the Collaborative represents approximately 40 per cent of all public housing in Ontario, including more than 81,500 homes. The joint portfolio asset value of the Collaborative exceeds $20 billion, and together the members serve over 150,000 tenants.

SOURCE GTHA Community Housing Collaborative

Media Contact: Kimberly Moser, [email protected], [phone]; Candice Leung, [email protected], 437-247-5786