The newly created Construct Canada Properties company will oversee plans to construct 4,000 houses on six federally owned websites, Prime Minister Mark Carney mentioned Sunday.
Particular areas for the houses haven’t but been introduced, however Carney mentioned they are going to be in Dartmouth, N.S., Longueuil, Que., Ottawa, Toronto, Winnipeg and Edmonton.
Building is predicted to start on the primary of those houses subsequent 12 months, in keeping with a senior authorities official.
“The core problem current within the housing market is it’s simply too arduous to construct,” Carney mentioned at a press convention in Nepean.
Carney mentioned he’s requested his colleagues to establish land owned by authorities departments that can be utilized for housing, which will likely be added to the record of 88 properties on the Canada Land Financial institution which can be out there.
He mentioned it will “assist decrease prices for builders and most significantly, decrease the rents and new dwelling costs for Canadian households.”
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The federal government’s rental safety fund, which helps group housing teams buy personal rental models with a purpose to maintain them reasonably priced, will proceed underneath Construct Canada Properties.
The brand new company is may also embody a $1 billion fund for transitional housing tasks aimed to assist folks prone to homelessness.
Construct Canada Properties is supposed to be the principle company overseeing reasonably priced housing tasks that contain the federal authorities.
“Construct Canada Properties will prioritize using cost-efficient and trendy strategies of development, together with manufacturing unit construct, modular and mass timber manufacturing unit construct housing,” Carney mentioned.
He mentioned the company may also undertake the federal authorities’s just lately introduced “Purchase Canadian” coverage, which is supposed to prioritize using Canadian supplies and inputs as a method to assist bolster the financial system within the face of U.S. tariffs.
The company’s CEO, Ana Bailão, is a former Toronto metropolis councillor and deputy mayor who has served on the board of Toronto Group Housing.
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